ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday scrapped two international tenders for the import of wheat over higher prices and allowed the floating of a fresh one.

The ECC meeting presided over by Economic Affairs Minister Omar Ayub Khan cancelled the wheat tenders on the recommendation of the Ministry of Food Security and Research.

The seventh and eighth international wheat tenders for the current fiscal year for importing 90,000 tonnes each were opened on Oct 25 and Nov 4, respectively.

An official in the Ministry of Food Security said the tenders were scrapped because of sufficient local availability of wheat as well as higher prices on the international market.

An of ficial announcement of the Finance Division said that the ECC scrapped the seventh tender floated by the Trading Corporation of Pakistan and allowed the staterun grain importer to issue fresh tender. Similarly, the eighth wheat tender was also cancelled on the basis of higher prices.

The ECC further directed the food security ministry to re-assess the need and requirements of neighbouring country Afghanistan for wheat.

The ECC approved a summary seeking elimination/ reduction of tariffs on various items currently being imported f rom Afghanistan as goodwill gesture.

The sub-committee on revision of OMCs and dealers margins sought time for deciding revision in margin on petroleum products. It was decided that the summary may be tabled in the next meeting after soliciting comments and views from all the members of the committee.

On the summary of Ministry of National Health Services, the ECC exempted personal & protective and testing laboratory equipment donated by the USAIDfunded programme Promoting Quality of Medicine Plus from customs duty and taxes.

The ECC also recommended the allocation of Rs6 billion to initiate the process for improvement and rehabilitation programme of Balkassar-Mianwali (N-130) and Mianwali-Muzaffargarh (N-135) roads. The ECC also deliberated in detail and recommended funds for payment of salaries to the employees of Heavy Electrical Complex (HEC) and markup to Bank of Khyber with directions to finalise the privatisation of HEC by midJanuary next year.