950807

ECC reviews flood

situation of rivers

ISLAMABAD: The Economic Coordination Committee of the Cabinet, which met here on Monday with Prime Minister Benazir Bhutto in the chair, reviewed the flood situation of the rivers and directed the provincial Governments to intimate the damages of infrastructure including bunds, roads, bridges and houses particularly in the districts of Jhang, Sialkot, Jhal Magsi and Dadu to the Federal Government so that necessary measures may be taken to provide relief to the affected people in such areas.

The ECC directed the Ministry of Commerce to address the problems created by the imposition of anti-dumping duty by the Japanese Government on the export of cotton yarn to Japan and decided to make reference to the Geneva-based committee on anti-dumping practices for conciliation and to accelerate the process for determination of the status of new entrants who would be entitled to export yarn without levy of duty. The exporting firms on their part would try to diversify the quality and size of yarn exported to Japan and not concentrate on those counts which are subject of the dispute. The Ministry of Commerce would provide all supportive measures to improve marketing of value-added products like towels, hosiery and bed-sheets in the Japanese and other quota free markets to mitigate the yarn market loss.

The committee directed the Trading Corporation of Pakistan (TCP) to import potatoes in order to stabilize its prices in the country.

The ECC also approved the formation of a committe on the performance of economy to be headed by the Deputy Chairman, Planning Commission, which would comprise the officials as well as experts from the private sector. The committee is vested with the task of reveiwing the performance of economy, savings and investments and sectoral policies. It would suggest measures to improve the implementation of government policies and programmes designed to support private sector investment and development.

The ECC reviewed the progress made on the Pak-Kuwait refinery and PARCO mid-country refinery projects.

It also reviewed the progress made on the joint venture with Australia for the establishment of a meat and dairy processing, dairy cattle and breeding farms.

The committee reviewed the implementation of relief package to the coop scam affectees and directed the Punjab Cooperative Board for Liquidation (PCBL) to accelerate the disposal of propertie to facilitate payment to the affectees.-APP