ISLAMABAD (National Times) – The Economic Coordination Committee has accorded approval to import of 450,000 metric tonnes of wheat from Russia.

The approval was granted at a meeting of the committee held in Islamabad on Monday, with Finance Minister Ishaq Dar in the chair.

This wheat will be imported at a rate of 372 dollars per metric tonne for supply at Gwadar from February to March next year.

The Committee also approved the import of 130,000 metric tonnes of wheat at the same rate from a UK based company to be supplied at Karachi Port from the 16th of this month until February next year.

The ECC decided that additional cost on inland transportation from Gwadar Port will be borne by Pakistan Agricultural Storage & Services Corporation Ltd to be recovered from provinces at the time of release of wheat stock.

The meeting also approved proposal of Finance Ministry to change the title of the revolving fund account for CPEC Independent Power Producers from ‘Pakistan Energy Revolving Fund’ to ‘Pakistan Energy Revolving Account’.