ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has allowed regulatory cover to barter trade arrangements with Afghanistan and Iran by amending relevant provisions of Export Policy Order (EPO) 2020 and Import Policy Order (IPO) 2020.
The summary for granting regulatory support for establishing barter trade arrangements with the two neghbouring countries was presented by Ministry of Commerce before ECC, the meeting of which was chaired by Federal Minister for Finance and Revenue, Shaukat Tarin.
Among others, the meeting was attended by Federal Minister for National Food Security and Research Syed Fakhar Imam; Federal Minister for Economic Affairs; Omar Ayub Khan, Minister of State for Information and Broadcasting, Farrukh Habib; federal secretaries and other senior officers.
The cabinet committee allowed Ministry of Industries and Production to build strategic reserves of sugar to avoid price variation/hike in prices in future.
Accordingly, the federal government would purchase 0.30 million metric ton sugar and provincial governments of Punjab and Sindh would purchase 0.20 million metric tons of sugar for strategic reserves from sugar mills in current crop year when the prices are lower in the local market.
