ECC maintains support prices for wheat at Rs1,300

  • Government also approved a bailout package worth Rs13.6 billion for PIA
Business

ISLAMABAD – Economic Coordination Committee (ECC) of the Cabinet has approved keeping the Minimum Guaranteed Price known as support price unchanged for wheat crop 2017-18 at Rs1300 per 40 kilogram.

The decision was taken at a meeting presided over by Prime Minister Shahid Khaqan Abbasi on Thursday in Islamabad.

In the last few years, Pakistan witnessed the unusual production of wheat crops due to higher support price as compare to price in international market.

It has also been decided to supply 20,000 tonnes of wheat to the United Nations World Food Programme for the temporary displaced persons of the Federally Administered Tribal Areas (Fata).

The ECC also gave a green signal for the construction of Machike-Tarujabba Oil Pipeline Project for supplying oil from Lahore to Peshawar.

The government also approved a bailout package worth Rs 13.6 for Pakistan International Airlines (PIA) facing financial crunches.