March 17, 2022: Economic Coordination Committee (ECC) has approved a supplementary grant of Rs50 billion to the Power Division and Rs4.5 billion in favor of the Ministry of Commerce for Export Development Fund (EDF), a press release said today.

Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over a meeting of ECC of the Cabinet today. Federal Ministry for National Food Security & Research Syed Fakhar Imam, Minister of Energy Hammad Azhar, Adviser to the Prime Minister on Commerce and Investment Mr. Abdul Razak Dawood, Governor SBP, Federal Secretaries and other senior officers also attended the meeting.

Ministry of National Food Security and Research submitted a summary on the extension in date for subsidy disbursement to the farmers on Kharif crop during 2021 on fertilizer (DAP), cotton Seed and Whitefly related pesticides, under Prime Minister’s package for agriculture in 2020-21. Federal Government has already released Rs3.890 billion to the Sindh province and Rs0.541 billion to Baluchistan for the subject scheme. The ECC after discussion approved the proposal of subsidy disbursement till 30-06-2022.

Ministry of National Food Security and Research submitted another summary on subsidy to the farmers on fertilizer for Kharif Crops 2022. The ECC approved subsidy disbursement in Kharif season 2022 amounting to Rs24.26 billion through provinces using their existing mechanism on sharing basis (50:50) for Phosphatic Fertilizers along with direction to strengthen the tracking system. The federal Government share will be Rs12.13 billion.

On another summary of Ministry of National Food Security and Research on Fixation of Public Wheat procurement targets of Sindh and Baluchistan along with Cash Credit limits, the ECC approved wheat procurement target of Sindh to the level of 1.40 MMT, along with Cash Credit Limit (CCL) of Rs77.00 billion and target of Baluchistan to the level of Rs0.10 MMT along with CCL for the amount Rs. 6.20 billion.

On another summary presented by the Ministry of National Food Security and Research, subject to the approval of Cabinet, the ECC approved the revision of Minimum Support Price (MSP) of Wheat Crop 2021-22 from Rs1,950/40 Kg to Rs2,200/Kg, Wheat procurement target for Punjab to the tune of 4.00 MMT with Cash Credit Limit of Rs220.00 billion. Khyber Pakhtunkhwa was allowed to procure 0.20 MMT from Punjab Food Department with their own financial arrangements. The Cash Credit Limit (CCL) of PASSCO was also revised from Rs65 billion to the level of Rs72.50 billion at Rs2,200/40 Kg for procurement of 1.20 MMT of Wheat.

Press Release

31516