By Ali Imran
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved to import 50,000 MT sugar to maintain sufficient stock in the country.
The ECC approved to import sugar in 03 segregated tenders of 50,000 MT each so that there is more participation and increased competition when international prices fall down, said a press release issued by Ministry of Finance here. Finance minister Shaukat Tarin presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet.
Secretary, M/o Industries and Production, Jawwad Rafique Malik briefed the Committee about availability of sufficient stocks of sugar. He further apprised about the steps being taken to import sugar for building strategic reserves.
The Committee further emphasized to ensure smooth supply of sugar throughout the country and directed to initiate crushing by sugar mills in the beginning of November, 2021 as done last year.
Finance Division presented an updated summary regarding Kamyab Pakistan Program (KPP) before ECC. The program has been streamlined in consultation with stakeholders to disburse micro credit for uplifting marginalized segments of the society.
KPP has five components namely Kamyab Karobar, Kamyab Kissan, Naya Pakistan low-cost Housing, Kamyab Hunarmand and Sehatmand Pakistan.
Under the first 03 components, micro-loans shall be disbursed among eligible persons registered with Ehsaas through National Socio-Economic Registry (NSER) who have family income of upto Rs.50,000 per month.
The last two components of KPP will be integrated with the existing programs.
KPP is aimed to integrate with Government’s ongoing skill development program for imparting educational and vocational training. As per revised framework of KPP, selection of Wholesale Lenders (Banks) will be through competitive bidding in line with PPRA rules.
The Micro Finance Providers (MFPs) will be selected by the wholesale lenders. The Government will provide two guarantees of 10 percent first loss guarantee to MFPs and 50 percent guarantee to Wholesale Lenders (WLs) on pari-passu/risk-sharing basis.
