ECC proposes Rs1,650 wheat support price

By: News Desk      Published: 03:48 AM, 7 Nov, 2020
ECC proposes Rs1,650 wheat support price
–File photo

The Economic Coordination Committee (ECC) on Friday set the wheat support price at Rs1650 per 40 kilograms. 

The ECC meeting also approved the release of 38,000 metric tonnes of wheat to flour mills. A committee would be set up to discuss the issues relating to wheat export. 

Adviser to Prime Minister Imran Khan on Finance and Revenue Abdul Hafeez Shaikh chaired the ECC meeting in Islamabad on Friday. The final approval of the wheat support price would be given by the federal cabinet. 

According to ECC’s decision, Punjab will get 25,000 metric tonnes of wheat per day, Sindh 8,000 metric tonnes, Khyber Pakhtunkhwa 4000 metric tonnes and Balochistan 1,000 metric tonnes. Punjab will get 700,000 metric tonnes of extra wheat. 

However, the current release price of wheat would remain unchanged at Rs1,475 per 40 kilograms. The Trading Corporation of Pakistan would import 400,000 metric tonnes of wheat. 

Also, the ECC approved a supplementary grant of Rs11.68 billion for employees of the Pakistan Steel Mills.