ECC dismisses reports of delay in wheat procurement targets, confirms authorization

April 06, 2024 (MLN): The Economic Coordination Committee (ECC) has dismissed certain media reports that claimed a misleading impression that the committee has delayed the decision on the wheat procurement targets.

The ECC affirmed its approval and clarified that no changes have been made to these targets, as stated in a press statement issued today.

The committee discussed the matters related to wheat procurement in its meeting held on April 04, 2024.

After considering the views of the relevant Federal Ministries, the members of the ECC felt that it would be advisable to include the Provincial governments in the deliberations, as they would be responsible for implementing the decisions on the ground.

The meeting was therefore reconvened on April 05 and representatives of all the Provincial governments participated.

They provided updates to the Committee on the latest situation relating to the procurement of wheat in their respective areas and apprised it of their requirements for bank credit for the purpose.

The Committee after detailed deliberations approved the procurement target proposed by the Ministry of Food Security and the Provinces and the cash credit limits required for the purpose.

The relevant departments did not suggest any enhancement or reduction in targets presented by the Ministry of Food Security, nor did the ECC approve any such change.

The government of Punjab informed the Committee that it was closely monitoring the wheat situation in the Province and had initiated the procurement process.

They further informed that the provincial government would continue to intervene to make sure that farmers can sell their produce at the support price level.

The ECC in its inaugural meeting resolved that all the matters brought before it would be deliberated in detail to make informed decisions, instead of rushing through and rubber-stamping hasty measures.

The Committee would also continue to ensure that all the stakeholders are on board before arriving at decisions that have far-reaching implications.

The detailed discussions during the meetings of the ECC on April 04 and April 05, 2024 are reflective of this policy.

Copyright Mettis Link News