ECC approves 50/50 ratio of local, imported wheat allocation

By MG News | July 25, 2023 at 10:20 AM GMT+05:00

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July 25, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Monday allowed to allocate wheat amongst the recipients at the rate of 50% local and 50% imported on a weighted average price of the stock, said a press release issued by the Finance Division on the same day.

The summary for allocation of PASSCO’s Wheat amongst recipient agencies/ provinces /areas for the year 2023-24 was tabled by the Ministry of National Food Security & Research.

The ECC further directed that all recipients would pay the full price of wheat and incidental charges of PASSCO as there would be no financial liability on the part of the federal government for the supply of the wheat to the respective provinces/entities.

Moreover, the committee also directed the provincial governments to pay the pending liabilities of Rs149 billion of PASSCO before signing of MoU for the procurement of wheat for the current year.

The Ministry further informed that the recipient agencies have made their demand of 2.488,000 MT for the food year 2023-24.

The meeting of ECC was presided by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.

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