ECC's Rs7.3bn wheat subsidy approval to resolve crises in GB: Amir Muqam

April 06, 2024 (MLN): The approval of Rs7.3 billion as a wheat subsidy for the people of Gilgit-Baltistan by the Economic Coordination Committee (ECC) will eliminate the crisis situation regarding wheat subsidy in the region, Federal Minister for Kashmir & Gilgit-Baltistan Affairs, Engineer Amir Muqam stated today.

He said that in the financial year 2023-24, a total amount of Rs16.73bn was required for subsidy in Gilgit-Baltistan, while only Rs9.5bn was allocated in the budget for subsidy because of the tough economic situation.

“There was an uncertain situation in Gilgit-Baltistan due to the non-availability of the remaining amount,” he added.

The Rs9.5bn had already been released in the form of subsidy, while ECC had approved to release of another Rs7.3bn and the remaining Rs3bn would be collected by the government of Gilgit-Baltistan in the form of sale proceeds.

Consequently, the issue of wheat subsidy had been fully resolved by FY23-24.

In his concluding remarks, he highlighted that the prosperity of Gilgit-Baltistan is the prosperity of Pakistan and with the government's initiatives in the fields of CPEC and tourism, Gilgit-Baltistan would play a very key role in the economic development of Pakistan in the coming days.

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