ECC fixes wheat’s minimum support price at Rs1365/40kg

10:31 AM | 29 Nov, 2019
ECC fixes wheat’s minimum support price at Rs1365/40kg
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ISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet has raised the minimum support price of wheat from 1350 to 1365 rupees per 40 kilograms. 

The decision was taken at a meeting of the ECC held in Islamabad with Adviser to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh in the chair.

It was decided in view of representations from various farmers and growers’ associations as well as the Federal Cabinet and the National Assembly Special Committee on Agricultural Products which had proposed a reconsideration of the minimum support price in order to compensate the farmers.

The ECC also viewed a presentation from the Ministry of Finance on the government commodity operations which had over the years resulted in 757 billion rupees as total debt and liabilities and recommendations for reducing the debt, the Radio Pakistan reported.

The ECC also took up a proposal from the Ministry of Industries and Production for a technical supplementary grant of 6 billion rupees to the Utility Stores Corporation for subsidy and procurement of essential commodities.

It asked the Utility Stores Corporation to prepare within the next few days a practical and comprehensive mechanism involving use of information technology to ensure the disbursement of specific food items to the poorest of the poor.