Daily Times

Economic Coordination Committee (ECC) has constituted a coordination committee to deal with import of wheat and its logistics and distribution to the recipient agencies.

The coordination committee was chaired by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh in Islamabad on Friday.

The other committee members include Advisor to the PM for Institutional Reforms & Austerity Dr. Ishrat Hussain, Minister for Industries and Production Hammad Azhar, SAPM on Revenue Dr Waqar Masood, Federal Minister for National Food Security & Research Syed Fakhar Imam and Governor State Bank of Pakistan Dr Reza Baqir. Secretaries Finance, NFS&R, Communications, Commerce, Maritime Affairs, Railways and Chief Secretaries of Balochistan, KP, Punjab and Sindh are also members of the committee.

After due deliberation, ECC took key decisions with reference to demand and supply of wheat to stabilize local market and to reduce the wheat flour prices across the country. After detailed discussion, the ECC approved Minimum Support-Price (MSP) for the wheat crop as Rs.1650 per 40kg. At the same time, current release price was maintained at Rs.1475 per 40kg.

After thorough consultation, ECC also approved grinding ratio of wheat at the base level of 70:30. It was further decided that ratio for the refined varieties of wheat flour would be decided by the Coordination Committee later. ECC also approved the request by the Government of Punjab to provide additional 0.7 MMT of wheat, out of which 0.4 MMT of wheat will be imported by TCP for Punjab.

Lastly, technical supplementary grant for the settlement of outstanding dues of non-litigant retired employees of Pakistan Steel Mills (PSM) amounting to Rs.11.680 billion was also approved by the ECC.