Federal Minister for Finance and Revenue Mr. Miftah Ismail virtually presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today.
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Mr. Khurram Dastgir Khan, Federal Minister for National Health Services, Regulations and Coordination Mr. Abdul Qadir Patel, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Coordinator to the PM on Economy Mr. Bilal Azhar Kayani, Chairman NDMA, Chairman FBR, Federal Secretaries and senior officers attended the meeting.
National Disaster Management Authority (NDMA) presented a summary for allocation of funds for procurement and logistics of relief items for flood affectees and apprised on the devastation caused by the recent floods in Pakistan. In order to provide immediate relief to the flood affectees, NDMA started procurement on emergency basis costing Rs. 2.4 billion.
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Due to colossal damages, the already procured items are not sufficient viz-a-viz relief requirement in the flood affected areas. Therefore, NDMA placed orders for procurement of more items at cumulative cost of Rs. 7.113 billion, which are being procured in emergency to minimize loss of lives, property, livestock, etc.
Previously, NDMA was allocated Rs. 8 billion for procurement and logistics cost of relief items to the flood affectees. The amount was insufficient as the cost of only procurement has surpassed Rs. 9.5 billion. Besides procurement, NDMA is also undertaking logistics of all relief goods and materials provided by friendly countries.
Foregoing in view on account of immediate future procurement of relief items, the ECC approved funds Rs. 10 billion to National Disaster Management Authority (NDMA) with direction to the Finance Division to immediately release Rs. 5 billion to NDMA.
The ECC also considered a summary of Ministry of Commerce on clearance of stuck up consignments in light of office memorandum dated 22 July, 2022, 19 August, 2022 and 23 August, 2022 issued by Ministry of Commerce. The ECC approved the proposal and directed that the consignments of previously banned items that landed in Pakistan till 18th August, 2022 may be released at the rate of surcharge.
Ministry of National Health Services, Regulations and Coordination presented a summary for exemption of Active Pharmaceutical Ingredients (APIs) from Custom Duty and Additional Custom Duty. The ECC after discussion directed Ministry of National Health Services, Regulations and Coordination to withdraw the summary and submit a fresh summary on paracetamol and to rationalize the price and ensure its availability.
Ministry of National Food Security and Research presented a summary on import of Wheat through Gwadar sea port. The ECC deferred the summary.