ECC approves import of 300,000 tons of wheat

ISLAMABAD, Pakistan: Amid the prevailing wheat crisis, the Economic Coordination Committee (ECC) which met in Islamabad on Monday with the Prime Minister’s Adviser on Finance Abdul Hafeez Sheikh in the Chair approved the import of 300,000 tons of wheat.

In the meeting, a six-point agenda to review the performance of key sectors of the national economy was deliberated upon.

The ECC accorded its approval to import 300,000 tons of wheat without any regulatory duty on it.

The meeting was informed that the first shipment of wheat is likely to arrive in the Country by February 15, 2020.

The Economic Coordination Committee asked Punjab and Pakistan Agricultural Storage and Services Corporation (PASSCO) to release their stocks to overcome wheat shortage in the Country. It was informed that Punjab and PASSCO have wheat stocks of 4,100,000 tons.

The Committee also reduced the GIDC up to Rs 400 per bag to reduce the urea fertilizer use.

Meanwhile, the Singh government has initiated the provision of wheat at government rates to the general public.

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The Provincial Agriculture Minister Muhammad Ismail Rahoo has said that wheat flour stalls have been set up in various districts including Karachi, Hyderabad, Thatta, Larkana and Sukkur to sell flour at a cheaper price.

Ismail Rahoo said that in Karachi, wheat flour stalls have been set up in 22 bachat bazaars of a total of 25. He told that the people can purchase a bag of 10 kg flour from stalls at government rates while a bag of 10 kg flour is available for Rs 430 in bachat bazaars.