ISLAMABAD, Sept 11: The Economy Monitoring Committee on Thursday directed an inter-ministerial committee to work out a national fuel policy in consultation with all stakeholders and accord priority to supply of natural gas on the basis of its maximum cost and benefit ratio.

The meeting presided over by Finance Minister Syed Naveed Qamar was briefed by chairman of the Federal Board of Revenue on the policy of natural gas allocation and management for winter.

The committee was informed that domestic and commercial sectors would continue to get priority in gas supply during winter months.

The meeting discussed board outlines of the national fuel policy and directed the committee to hold extensive discussions to address all issues.

The committee was advised to submit its recommendations in the shortest possible time.

The committee headed by the FBR chairman comprises secretaries of petroleum, food and agriculture, commerce and industries.

The committee is expected to come up with recommendations relating to allocation of gas for power projects and meeting relating to the requirements of domestic and commercial sectors.

The committee directed that all fuel prices be regulated by the Oil and Gas Regulatory Authority while exercising vigilance over fuel oil prices.

The ministry of food and agriculture told the committee that wheat and flour prices had stabilised in provinces, except in some parts of Punjab and the matter was being looked into by relevant government departments to ensure uninterrupted supply of wheat and flour.

The committee directed Minfal to increase release of imported wheat in provinces to ease the situation.

The finance minister directed the ministry of industries and the Utility Stores Corporation to improve availability and quality of essential commodities at USC outlets through appropriate monitoring.

The food ministry also briefed the committee on modalities of wheat import from the US under PL-480 scheme and said that arrangements had been finalised and an agreement would be signed before Sept 15, allowing the shipment to start in October.