In a positive development, New wheat support price announced by the PTI government

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In a positive development, New wheat support price announced by the PTI government

ISLAMABAD: *New wheat support price announced by the PTI government *Economic Coordination Committee (ECC) of the Cabinet.

ECC on Thursday raised the minimum support price of wheat from the previously announced Rs1,350 per 40kg to Rs1,365 per 40kg in view of reservations from various farmers and growers’ associations as well as the federal cabinet and the National Assembly’s Special Committee on Agricultural Products.

The ECC meeting, chaired by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, took this decision to “compensate and safeguard the interests of growers and ensure food security for the masses”.

Earlier, the Ministry of National Food Security & Research briefed the ECC on the feedback received from various farmers’ associations as well as different government forums and requested for fixing the minimum support price of wheat at Rs1,400 per 40kg.

The committee deliberated on the proposal at length and in view of the discussion and input regarding the impact of any further increase in wheat price on food inflation and financial impact on the commodity stock operations, decided to raise the minimum support price of wheat to Rs1,365 per 40kg.

Meanwhile, the committee considered a proposal from the Ministry of Energy regarding tariff rationalisation for power sector in the first quarter of financial year 2019-20.

The committee approved the proposal and notified the NEPRA-approved quarterly adjustment of 15 paisa per unit after incorporating additional charge of 11 paisa per unit to maintain uniform tariff on all categories of consumers except lifeline and domestic consumers.