Islamabad, Jul 21 (IANS): Pakistan's Economic Coordination Committee (ECC) of the cabinet has allowed the state-owned Trading Corporation of Pakistan (TCP) to import 0.3 million tons of wheat to manage strategic reserves, the Ministry of Finance has said.
The decision was made at an ECC meeting attended by ministers and representatives from all relevant ministries, the finance ministry said in a statement on Wednesday night.
The Ministry of National Food Security and Research at the meeting presented a summary of urgent advice relating to the awarding of third international wheat tender 2022, Xinhua news agency reported quoting the statement.
The ministry of food security sought the lowest bid for the import of wheat, said the statement.
The ECC, following evaluation of the proposal, sanctioned the lowest bid offered by an international firm at 404.86 US dollars per ton for 120,000 tons, it added.