ISLAMABAD - The Economic Coordination Committee (ECC) of the cabinet on Monday has approved lowest bids of two companies for import of 580,000 metric tonnes wheat through Karachi and Gwadar ports. Federal Finance and Revenue Minister Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the cabinet. National Food Security and Research Ministry submitted a summary on Award of 7th International Wheat Tender 2022 opened on 30th November, 2022. Keeping in view results of 7th International tender and G2G offer, the ECC approved the lowest bid from M/s Cereal Crop Trading LLC @ $372/ MT for supply of 130,000MT at Karachi ports for the shipment period from 16th December, 2022 8th February, 2023 and also granted approval of the offer of M/s Prodintorg, Russia on G2G basis @ $ 372/MT for supply of 450,000MT at Gwadar Port for shipment period from 1st February, 2023 to 31st March, 2023. It was decided that any additional cost on inland transportation from Gwadar Port will be borne by PASSCO to be recovered from provinces at the time of release of wheat stock. The ECC 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”. Federal Power Minister Mr Khurram Dastgir Khan, Federal Industries and Production Minister Syed Murtaza Mahmud, Mr Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Finance and Revenue Dr Ayesha Ghous Pasha, SAPM on Finance Mr Tariq Bajwa, SAPM on Revenue Mr Tariq Mehmood Pasha, SAPM on Government Effectiveness Dr Muhammad Jehanzeb Khan, federal secretaries and other senior officers attended the meeting in person while Federal Commerce Minister Syed Naveed Qamar, Minister of State for Petroleum Mr Musadik Masood Malik, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal and SBP governor, MD PASSCO joined the meeting through Zoom.