The government has kept the basic need like wheat further away from the poor segment of the country as the the competent authority "the Economic Coordination Committee (ECC) of the Cabinet" has decided to lift the ban on the export of wheat.
The ECC, which met under the chairmanship of Finance Minister Dr. Abdul Hafeez Sheikh took the decision on a summary moved by the Ministry of Food and Agricuture.
The Ministry of Food and Agriculture has moved a summary to the ECC for the export of wheat and wheat products through the private sector without any element of suibsidy. After much deliberations on the prevailing prices in the domestic and international market, the Coordination Committee approved the Ministry of Food and Agriculture's summary with State Bank of Pakistan, FBR and Mnisttry of Commerce to monitor the export process.
The decision taken on the time, when the country faced worst flood and it will badly impact on production.
On the summary submitted to the ECC by the Ministry of Industries and Production requesting for import of up to 0.225 million tones of urea, the ECC approved the import. However, a Sub-Committee was constituted under the chair of Mr. Kamal Majidullah, Adviser to Prime Minister on Agriculture & Water with Governor State Bank, Dy Chairman Planning Commission, Secretary Finance and representatives of Ministries of Industries & MINFA to work out the modalities of import.
The Federal Board of Revenue had moved a summary for the grant of fiscal relief to rehabilitate the economic life in Khyber Pakhtoonkhawa, FATA and PATA requesting:
Duty & Tax Remission for Exports (DTRE) may be allowed for manufacture and export of ghee only. The DTRE facility be subjected to provision of average export made by the manufacture-cum-exporters during the last four years plus enhancement upto 20% and the facility be provided on the basis of industries track record and performance. Time limit will be ninety days for utilizing the imported palm oil under DTRE scheme. This period will be counted from the date of Import General Manifest (IGM) to export date of the consignment. Export will be allowed in foreign exchange only.
The ECC, which met under the chairmanship of Finance Minister Dr. Abdul Hafeez Sheikh took the decision on a summary moved by the Ministry of Food and Agricuture.
The Ministry of Food and Agriculture has moved a summary to the ECC for the export of wheat and wheat products through the private sector without any element of suibsidy. After much deliberations on the prevailing prices in the domestic and international market, the Coordination Committee approved the Ministry of Food and Agriculture's summary with State Bank of Pakistan, FBR and Mnisttry of Commerce to monitor the export process.
The decision taken on the time, when the country faced worst flood and it will badly impact on production.
On the summary submitted to the ECC by the Ministry of Industries and Production requesting for import of up to 0.225 million tones of urea, the ECC approved the import. However, a Sub-Committee was constituted under the chair of Mr. Kamal Majidullah, Adviser to Prime Minister on Agriculture & Water with Governor State Bank, Dy Chairman Planning Commission, Secretary Finance and representatives of Ministries of Industries & MINFA to work out the modalities of import.
The Federal Board of Revenue had moved a summary for the grant of fiscal relief to rehabilitate the economic life in Khyber Pakhtoonkhawa, FATA and PATA requesting:
Duty & Tax Remission for Exports (DTRE) may be allowed for manufacture and export of ghee only. The DTRE facility be subjected to provision of average export made by the manufacture-cum-exporters during the last four years plus enhancement upto 20% and the facility be provided on the basis of industries track record and performance. Time limit will be ninety days for utilizing the imported palm oil under DTRE scheme. This period will be counted from the date of Import General Manifest (IGM) to export date of the consignment. Export will be allowed in foreign exchange only.
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