Pakistan Import Rate Increases
On Saturday, Pakistan import made it to the next level as cash purchase of two million metric tons of wheat from Russia, abandoning a barter trade agreement, as well as Rs160 billion in extra aid to ensure food, fuel, and energy delivery.
The Economic Coordination Committee of the Cabinet approved an additional Rs62.3 billion for fuel subsidy payments.
Rs50 billion to address power shortages, and over Rs36 billion for providing targeted subsidies to the poorest families and paying for discounted essential commodities at Utility Stores.
In June, the ECC temporarily waived additional customs fees on edible oil imports to encourage providers to expedite shipments. The Finance Minister, Miftah Ismail, presided over the ECC meeting.
According to a finance ministry official, Pakistan will receive a $2.5 billion loan from China in June.
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