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ECC approves Rs1,066.078 m for payment of outstanding dues of PSM

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  • Post category:Economy / Pakistan
  • Post last modified:23/11/2018
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ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) Thursday approved a grant of Rs1,066.078 million for payment of outstanding dues including provident fund, gratuity and payroll dues to families of deceased employees of Pakistan Steel Mills (PSM).
The ECC met here with Minister for Finance Asad Umar in the chaired and considered the proposal from Ministry of Industries and Production for the payments of outstanding dues of the deceased employees of Pakistan Still Mills, a press release said.
The meeting also discussed the proposal submitted by Ministry of Commerce and Textile to allow import of cotton from Afghanistan, Central Asian states via a land route through the Torkham Border.
The committee accorded approval for the import with the condition that all sanitary and phytosanitary regulations shall be abided.
The ECC also directed the relevant ministries to engage with the industry for the establishment of a permanent quarantine facility for cotton imported through land route.
The Secretary Ministry of National Food Security apprised the meeting about a report on the value chain of sugar.
The ECC took note of the issue of pending payments to sugarcane growers as well as difficulties faced by the millers in view of surplus stocks, the possibility of their export and redressal of liquidity issues.
The committee directed Minister of National Food Security and adviser Industries to hold a meeting with the Pakistan Sugar Mills Association (PSMA) and resolve these issues.
The meeting also accorded approval for a sale of 200,000 tons of wheat from the surplus stocks available with Pakistan Agriculture Storage and Services Corporation to Poultry Association of Pakistan (PPA).
The ECC also had deliberations on the proposed plan of Ministry of Energy for gas load management during the winter season and decided to have further discussions in the matter at the next meeting to finalize the plan.