ECC approves PM's Package for Rabi Crops

News Image

By MG News | October 29, 2020 at 05:12 PM GMT+05:00

0:00

October 29, 2020: Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh chaired the special meeting of the ECC today to approve the “PM’s Package for Rabi Crops-Specially wheat".

In order to give the incentives to the farmers for the upcoming Rabi season, the Federal Cabinet in its meeting held on 27-10-2020 constituted a special committee to design the package to reduce the input cost for the farmers with the special intent to increase the production of wheat in the country.

According to the package Rs.1000/per 50 kg bag will be given as subsidy on fertilizers; DAP, P and K fertilizers. The Federal and Provincial government will share the subsidy in 70% and 30% ratio. On weedicides at Rs. 250 per acre and fungicides at Rs.150 will be given by the Federal Government as subsidy.

The provinces will distribute the subsidy in their already prevalent manner but will be responsible for ensuring transparency. The Federal funds for the subsidy will be directly disbursed to the provinces by the Finance Division on the basis of their share, keeping in view their system strength and overall outreach. 

The Ministry of National Food Security would examine the provinces’ demand for funds and after its recommendation Finance Division shall transfer the funds to the provinces. It was also decided that the provinces will expand, improve and up-grade their subsidy disbursement systems. The package will be presented in the next Cabinet meeting on Tuesday for approval by the Federal Cabinet.

Press Release

Related News

Name Price/Vol %Chg/NChg
KSE100 132,559.80
114.86M
-0.63%
-843.39
ALLSHR 82,952.45
649.49M
-0.28%
-235.61
KSE30 40,328.71
40.74M
-0.79%
-322.75
KMI30 190,737.20
47.36M
-0.70%
-1346.72
KMIALLSHR 55,707.59
329.81M
-0.25%
-140.11
BKTi 36,129.37
7.26M
-0.81%
-293.50
OGTi 28,279.27
7.85M
-0.56%
-158.34
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,220.00 109,545.00
108,625.00
5.00
0.00%
BRENT CRUDE 70.56 70.58
69.85
0.41
0.58%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.77 68.78
67.78
0.44
0.64%
SUGAR #11 WORLD 16.19 16.26
16.08
0.06
0.37%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg