ISLAMABAD: A parliamentary committee has expressed concern over the delay in the establishment of the Expo Centre in Quetta and the implementation of the Export Accelerator for small- and medium-sized enterprises.

The concerns were raised during a meeting of the National Assembly Standing Committee on Commerce, chaired by Jawed Hanif Khan.

At the outset, the committee also raised concerns over cost escalation, prolonged delays, changes in project location, lack of provincial coordination, and accountability gaps.

The ministry of commerce sought additional funding of Rs3 billion for the project, while Planning Division advised that allocations be managed within existing resources or via project-specific approvals.

On the Export Accelerator, the committee members stressed the need for clear outcomes, financial commitment, and inter-ministerial coordination to ensure effective implementation.

Meanwhile, the committee endorsed the allocation of Rs15bn subsidy from the Export Development Fund (EDF) to support rice exporters, noting its strategic importance amid regional market shifts and India’s export restrictions.

The commerce ministry confirmed daily monitoring and committed to submitting a detailed follow-up report within 90 days.

The committee reviewed NICL’s performance and board composition, recognising strong results over the past three years and real estate holdings valued at Rs25bn, including six units in Dubai worth Rs4.6bn.

Members discussed investment limits, SOPs, portfolio diversification, and risk coverage, while PRCL’s mandate and investment philosophy were reviewed in the context of its upcoming privatisation.

Pakistan’s gem and jewellery sector was also discussed, with members noting $450bn in estimated reserves, exports of Swat emeralds and challenges such as illegal gold exports and lack of hallmarking.

Proposals for a regulatory body, export promotion centres, and adoption of regional and international best practices were presented to ensure self-sustainability and separate management of gems and jewellery.

The commerce ministry was directed to evaluate these proposals against existing policies and submit recommendations.

The committee also showed concerns regarding value addition requirements and SRO 760 affecting gold and gemstone exports were highlighted. Members emphasised better coordination between the commerce ministry and the State Bank to resolve remittance and regulatory issues.

Published in Dawn, February 25th, 2026

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https://www.dawn.com/news/1975585

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ISLAMABAD: Days after Punjab government set a wheat procurement price of Rs3,500, the Economic Coordination Committee (ECC) of the cabinet on Tuesday fixed an 8-18pc higher minimum reserve price for sale of 500,000 tonnes of commodity from the federal government stocks through open bidding.

A meeting of the ECC presided over by Finance Minister Muhammad Aurangzeb took up again a proposal of the Ministry of National Food Security regarding disposal of 500,000 tonnes of wheat stocks through competitive bidding. These stocks were held by Pakistan Agricultural Storage and Services Corporation (Passco) currently under winding up.

The committee was informed that an earlier attempt to sell the wheat at previously approved reserve prices could not be finalised due to lower bids received. In view of the existing stock position and associated carrying costs, the ECC approved the sale of 500,000 tonnes of wheat through competitive bidding on a First-In-First-Out (FIFO) basis at revised reserve prices of Rs4,150 per 40 kg for local wheat and Rs3,800 per 40 kg for imported wheat.

Punjab government has recently fixed minimum procurement price of Rs3,500/- per 40kg from farmers for the current season.

Approves Rs4,150 per 40kg reserve price for 500,000 tonnes

The ECC also approved on Jan 28 about 800,000 tonnes of Passco’s wheat amid allegations of waste of public funds on managing imported wheat stocks since 2021-22.

The ECC was then told that around 1.8m tonnes of wheat stocks were still lying with Passco. Around 550,000 tonnes of these stocks belonged to imports made from Ukraine in 2021-22, most of which are now reportedly beyond the category of human consumption.

The ECC had decided to offload 800,000 tonnes at an estimated cost of about Rs70 billion, which would still leave about one million tonnes in storage, largely in bad shape.

The ECC also approved a supplementary grant amounting to Rs536m for Public Sector Development Programme projects of the defunct Pakistan Public Works Department (Pak-PWD). The approved amount will be transferred to the Governments of Punjab and Khyber Pakhtunkhwa for specific ongoing projects in accordance with the relevant legal and constitutional provisions.

In addition to the regular agenda items, a summary by the Petroleum Division regarding a fact-finding report on the Deed of Settlement with Cnergyico PK Ltd, submitted in compliance with earlier ECC directions concerning delayed payment of petroleum levy, was also tabled and returned with the observations that a more comprehensive presentation be made in a subsequent meeting.

Published in Dawn, February 25th, 2026

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