December 6, 2022

NEWS.net.pk

Daily News Network

ECC approves minimum support price of wheat from 1950 to 2,200/40 kg

The Economic Coordination Committee has approved revision of minimum support price of wheat crop from 1950 to 2,200 per 40 kilogram.

The Committee met in Islamabad today [Thursday] with Finance Minister Shaukat Tarin in the chair.

It approved wheat procurement target for Punjab to the tune of 4.00 MMT with Cash Credit Limit of 220.00 billion rupees while Khyber Pakhtunkhwa was allowed to procure 0.20 MMT from Punjab Food Department with their own financial arrangements.

The Committee also approved wheat procurement target of Sindh to the level of 1.40 MMT, along with Cash Credit Limit of 77.00 billion rupees and Baluchistan of 0.10 MMT with 6.20 billion rupees of cash credit limit.

The meeting also approved the proposal of subsidy disbursement to the farmers on Kharif crop during 2021 on fertilizer, cotton seed and Whitefly-related pesticides till June 30 this year.

The forum also approved subsidy disbursement in Kharif season this year amounting to 24.26 billion rupees through provinces using their existing mechanism on equal sharing basis for Phosphatic Fertilizers along with direction to strengthen the tracking system.

The committee also approved supplementary grant worth 50 billion rupees to power division and 4.5 billion for Ministry of Commerce for export development fund.