Business Pakistan

ECC gives go-ahead for release of 650,000 tonnes of wheat

Economic Coordination Committee of the Cabinet has given a go-ahead for release of 650,000 tonnes of wheat from PASSCO stocks to the provincial governments of Khyber Pakhtunkhwa, Sindh and Balochistan to ease out the demand and supply equilibrium in the local market.

The decision was taken at a meeting of the ECC held in Islamabad today (Wednesday) with Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh in the chair.

The ECC took up the wheat situation in the country, particularly the rising trend in wheat prices, and approved a proposal by the Ministry of National Food Security and Research for release of 300,000 tonnes each to governments of Khyber Pakhtunkhwa and Sindh and 50,000 tonnes to the government of Balochistan. The ECC also approved an amount of 2.745 billion rupees to be paid as PASSCO incidental charges.

The Committee also approved a proposal for grant of Technical Supplementary Grant amounting to 706.050 million rupees to the Ministry of Human Rights. 

It accorded approval to a proposal by the Ministry of Interior for a Technical Supplementary Grant amounting to 100 million rupees.  

On another proposal by the Ministry of Energy, the ECC also approved a proposal based on uniform seasonal pricing structure of “Use more electricity-pay less” to be applicable during the four winter months from November 2019 to February 2020, at the rate of 11.9 rupees per unit.

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