ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday announcedto fix wheat support price at Rs 1400 per 40 kilogram.
The announcement was made in a handout detailing the decisions taken duringa special meeting of the top decision making body, chaired by Adviser toPrime Minister on Finance and Revenue Abdul Hafeez Shaikh.Ad
The committee decided to form a high level monitoring group, comprising ofministers and advisers from food security, railways, economic affairs andpetroleum, for wheat purchasing process.
The group would work with the provinces and Pakistan Agricultural Storageand Services Corporation (PASSCO) for making the purchasing processeasier. During the meeting the PASSCO officials briefed the committee overpurchasing 1.8 million tons of wheat.
The meeting also mulled over ongoing decline in petroleum prices globallyand it was decided to transfer the advantage to masses.
It was decided to defer the approval of the Competition Commission OfPakistan budget for the next meeting while a grant of Rs 12.8 million wasapproved for Inter Board Committee of Chairmen (IBCC).
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During the yesterday’s meeting of the ECC, it deferred a summary of theMinistry of National Food Security for the increase in Minimum SupportPrice of wheat crop 2019-20 from existing Rs 1365 per 40 kg to Rs 1400.
The committee approved summary of the Ministry of Energy for ease of doingbusiness in the petroleum sector.
The power divisionlink will provide cheaperelectricity to five export sectorslinktillJune this year.
