Daily Times

The Economic Coordination Committee (ECC) of the Cabinet has decided that Trading Corporation of Pakistan (TCP) will start importing wheat in the required quantities through small tenders from time to time to maintain the wheat supply at a reasonable price and for keeping additional strategic reserves. Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the ECC meeting here at the Cabinet Division on Thursday. The adviser directed that availability of wheat is an important issue and there is a need to maintain sufficient stock of wheat in the country which could be made available at a reasonable price. Earlier, the ECC discussed in detail the need to import wheat in the country through the government and private sector. It is pertinent to mention here that provincial cabinet of Khyber Pakhtunkhwa decided to import an additional 300,000 metric tons of wheat through Trading Corporation of Pakistan (TCP) on Wednesday last. This is over and above the earlier import of 1.5 metric tons wheat. The cabinet doubled the import with the sole aim to stabilise the prices of flour and ensure uninterrupted flour to the consumers at cheaper rates.