July 16, 2008	Wednesday	Rajab 12, 1429

LAHORE, July 15: The government on Tuesday formed a committee to devise a comprehensive plan to overcome wheat shortage, improve supply of pulses and to work out a formula for distribution of 2.5 million tons of imported wheat among the four provinces.

A meeting of the Economic Coordination Committee (ECC) presided over by Prime Minister Yousuf Raza Gilani at the Governor’s House decided that the committee would be headed by Finance Minister Naveed Qamar and comprise representatives of the provinces. It would ensure supply of flour to consumers across the country at uniform prices.

Officials said that Punjab Chief Minister Shahbaz Sharif had assured the prime minister that his province would provide wheat to other provinces to help meet their food requirements.

The meeting discussed a proposed relief package for the poorest of the poor. It reviewed the federal government’s cash transfer programme — Benazir Income Transfer Scheme — for the poor as announced in the budget and the Food Stamp Scheme launched by the Punjab government. The prime minister will announce the cash transfer scheme in his address to the nation on July 19.

The meeting approved duty- and sales tax-free import of mineral oil to cope with the attack of white fly and Mealybug on the cotton crop on a proposal of the ministry of food and agriculture. The ministry and the Federal Bureau of Revenue were asked to work out modalities for the import of mineral oil.

The ECC set up a committee to review the performance of the Karachi Electric Supply Company and make recommendations for improving electricity production and distribution. The committee will comprise federal ministers for law, finance and water and power, Planning Commission’s deputy chairman and Nepra chief.

The meeting approved to reduce gas rates for captive power producers. It decided to give more powers to Ogra to fix CNG consumer prices and readjust gas tariff.

The meeting also approved the conversion of Heavy Electrical Complex’s debt into government equity in the enterprise to pave way for its privatisation by next month.

The officials said that State Bank Governor Dr Shamshad Akhtar had stressed the need for cutting down spending in public and private sectors in view of tough macro-economic challenges the country was facing on account of rising global oil and food prices.