ISLAMABAD: *New wheat support price announced by the PTI government *EconomicCoordination Committee (ECC) of the Cabinet.
ECC on Thursday raised the minimum support price of wheat from thepreviously announced Rs1,350 per 40kg to Rs1,365 per 40kg in view ofreservations from various farmers and growers’ associations as well as thefederal cabinet and the National Assembly’s Special Committee onAgricultural Products.
The ECC meeting, chaired by Adviser to Prime Minister on Finance andRevenue Dr Abdul Hafeez Shaikh, took this decision to “compensate andsafeguard the interests of growers and ensure food security for the masses”.
Earlier, the Ministry of National Food Security & Research briefed the ECCon the feedback received from various farmers’ associations as well asdifferent government forums and requested for fixing the minimum supportprice of wheat at Rs1,400 per 40kg.
The committee deliberated on the proposal at length and in view of thediscussion and input regarding the impact of any further increase in wheatprice on food inflation and financial impact on the commodity stockoperations, decided to raise the minimum support price of wheat to Rs1,365per 40kg.
Meanwhile, the committee considered a proposal from the Ministry of Energyregarding tariff rationalisation for power sector in the first quarter offinancial year 2019-20.
The committee approved the proposal and notified the NEPRA-approvedquarterly adjustment of 15 paisa per unit after incorporating additionalcharge of 11 paisa per unit to maintain uniform tariff on all categories ofconsumers except lifeline and domestic consumers.