ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet
has decided to allow import of 0.2 million tons of urea to meet the
requirements of Rabi season,.
The ECC after having detailed
deliberations in the light of the urea situation and the supply of gas
for its production took the decision of importing 0.2 million tones of
urea for the Rabi Crop 2011-12.The ECC also constituted two different
committees on the summaries moved by Ministry of Industries for removal
of levy of 16% sales tax on agriculture tractors and constitute a
different committee for purchase of 0.2 million tones of sugar from the
local Pakistan Sugar Mills Association.
ECC met here on Monday under the chairmanship of Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Shaikh.
The
sugar purchase Committee will look into the sugar situation in the
country, quantity of the sugar from different mills and their respective
price, the additional expenses as per tender terms, and to ensure that
there should be no violation of the PEPRA condition in finalizing the
lifting of sugar from the PSMA, and the role of TCP.
The
Chairman of the ECC Dr. Abdul Hafeez Shaikh opined that the rest of the
sugar mills who are not participating in the tender should also be
invited in it so that there may not have any complain in future. The ECC
also constituted a committee on the proposal floated by the Ministry of
Industries in its summary for the removal of 16% sales tax on
Agriculture Tractors. The committee headed by the Minister for
Industries and comprising Secretaries Revenue, Finance, Industries and
Adviser to the Prime Minister on Agriculture shall submit its report to
the chair before the next ECC expected this week.
The summary by
the Ministry of Industries pleading its case maintained that increase
in the prices of tractors has made it difficult for the farmers to
purchase new tractors and convert traditional farming into mechanical
farming for higher yield, especially when cost of other agriculture
inputs has gone up substantially. Furthermore, Zarai Taraqiati Bank
Limited (ZTBL) has also not been extending loans for purchase of
tractors since April 2010, creating another impediment for the farmers.
The production of tractors since March 2011 has also declined
drastically from over 72000 units to around 20000 units per an num.
Among others who attended the meeting included the Senior Minister for
Industries Chaudhry Pervaiz Elahi, Ghulam Ahmad Bilour, Minister for
Railways, Ghous Bux Mehar Minister for Privatization, Anwar Ali Cheema
Ministrer of Production,Changez Khan Jamali Minister for Science and
Technology and Secretaries of all the concerned ministries and heads of
corporations. Online
