Dasu attack: Pakistan’s ECC approves disbursement of US $ 11.6 million compensation for Chinese causalities

Islamabad: Pakistan’s Economic Coordination Committee (ECC) of the Cabinet has approved disbursement of US $ 11.6 million goodwill compensation for the Chinese causalities at Dasu Hydro Power project after an attack in July 2021.

Ministry of Water Resources submitted a summary on compensation package for the Chinese causalities at Dasu Hydro Power project at the ECC meeting chaired by Federal Minister for Finance and Revenue Miftah Ismail.

The ECC decided that the “amount of compensation/goodwill package will remain the same as per ECC’s earlier decision dated January 21, 2022 ( i.e US$ 11.6 million).”

The meeting approved the disbursement of the compensation/goodwill amount directly to the company M/s China Gezhouba Group International Engineering Co. Ltd (CGGC) through Ministry of Foreign Affairs.

Later, the Ministry of National Food Security and Research submitted a summary on urgent advice relating to award of 4th International Wheat Tender 2022 opened on 25th July, 2022. It was informed that Trading Corporation of Pakistan (TCP) issued 4th tender on 19-05-2022 for securing quantity of 200,000 Million Tonns of imported wheat.

Ministry of Commerce submitted a summary on prohibition/complete quantitative restrictions on import of non-essential and luxury items. It was submitted that in order to curtail the rising current account deficit (CAD), ban on the import of about 33 classes/categories of goods was imposed with the approval of the Cabinet.

Due to the decision, the overall imports of the banned items have shrunk by over 69% i-e from US $ 399.4 million to US $ 123.9 million. A review meeting was also held to review the ban after two months owing to serious concerns raised by major trading partners on the imposition of ban and considering the fact that the ban has impacted supply chains and domestic retail industry.

In the light of fact that imports substantially reduced due to consistent efforts of the Government, the ECC decided to lift the ban on most imported goods.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema and other senior officials attended the meeting.