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ECC delays wheat import
01.07.2010 10:58 "Agro Perspectiva" (Kyiv) —
The Economic Coordination Committee has postponed the decision of importing wheat, and instructed the Ministry of Trade to investigate the matter form scratch and handed over the report within two weeks, SAMAA reported Wednesday.
Minister of Finance Dr Abdul Hafeez Sheikh inquired from the ministry of trade officials that if we have to sell wheat at cheaper rates in the global market and also bear a loss of Rs 18.17 billion, then the local people should be given home-grown wheat too.
The committee was told that most industries have performed better this year as compared to last year. Their production stands at a 4 percent increase and is not showing negative growth anymore.
The committee has formed another committee which will prevent inflation on food items in the coming month of Ramadan. This committee will be headed by Minister of Industries and Production Hazar Khan Bajrani.
The loan for the expansion of Karachi Port Trust from the World Bank at an interest rate of 8.2 percent is also approved.
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