ISLAMABAD
\nThe Economic Coordination Committee (ECC) of the Cabinet here on Thursday approved key measures for the winding-up of the Pakistan Agricultural Storage and Services Corporation (PASSCO) and amendments to the Import Policy Order, 2022, aimed at strengthening Pakistan\u2019s trade governance framework.
\nThe ECC, which met here under the chairmanship of the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, approved summaries submitted by various ministries and divisions on matters relating to food security, public sector reforms, and Pakistan\u2019s international commitments.
\nThe cabinet body approved a summary of the Ministry of National Food Security and Research for the auction of 8,197.989 metric tons of flood-damaged PASSCO wheat through an open and transparent competitive bidding process, subject to third-party validation, to minimize financial losses, ensure the transparent disposal of damaged stocks, and support the ongoing restructuring and winding-up process of PASSCO.
\nThe Committee also approved a Rs. 4.188 billion severance package for PASSCO employees, submitted by the Ministry of National Food Security and Research, for the payment of compensation and terminal benefits to eligible employees as part of the orderly winding-up of the Corporation.
\nThe ECC considered a summary submitted by the Ministry of Federal Education and Professional Training regarding the Financial Sustainability and Governance Plan of Quaid-i-Azam University, Islamabad.
\nAfter reviewing the Plan, the Committee advised the University to engage independent financial experts to prepare a robust, realistic and practical financial sustainability plan to support the University\u2019s long-term financial sustainability and ensure the continuity of its academic operations.
\nThe Committee further approved a proposal submitted by the Ministry of Commerce to amend the Import Policy Order, 2022, by incorporating a definition of \u201cforced labour\u201d in line with the ILO Forced Labour Convention, 1930 (No. 29).
\nThe amendment will strengthen Pakistan\u2019s legal framework governing imports, reinforce compliance with international labour commitments, and enhance the country\u2019s trade governance framework.
\nThe meeting was attended by Federal Minister for Commerce, Jam Kamal Khan; Federal Minister for Investment, Qaiser Ahmed Sheikh; Federal Minister for Education and Professional Training, Dr. Khalid Maqbool Siddiqui; Federal Minister for Petroleum, Ali Pervaiz Malik (virtually); Federal Minister for Power, Sardar Awais Ahmad Khan Leghari (virtually); Special Assistant to the Prime Minister on Industries, Haroon Akhtar Khan, along with federal secretaries and senior officials from the relevant ministries, divisions and regulatory authorities.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Economic Coordination Committee (ECC) of the Cabinet here on Thursday approved key measures for the winding-up of the Pakistan Agricultural Storage and Services Corporation (PASSCO) and amendments to the Import Policy Order, 2022, aimed at strengthening Pakistan\u2019s trade governance framework. The ECC, which met here under the chairmanship of the Federal Minister for […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-554200","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n