ECC upholds ban on wheat export

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday discussed the wheat situation in the country and in the light of a briefing by the Ministry of National Food Security and Research, decided to continue with the ban on wheat flour export.

The meeting also decided to propose the provincial governments to undertake a fresh stock-taking of wheat in godowns to ensure availability of adequate supplies in the winter season.

The ECC meeting was held at the Cabinet Block with Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh in the chair.

The meeting instructed the Ministry of Finance to call an early meeting of the National Price Monitoring Committee (NPMC) to assess the wheat and flour supply situation in different parts of the country, including the federal capital, in view of recent reports of rising prices of some core food items, including flour.

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It also approved separate proposals for payment of over Rs1.5 billion subsidy charges to the executing agencies of the Prime Minister’s Youth Business Loan Scheme as well as the transfer of Rs2 billion funds from the Cabinet Division to the Planning, Development and Reform Division as a technical supplementary grant.

The ECC considered a proposal by the Finance Division and approved a technical supplementary grant amounting to Rs1.516 billion in Cost Centre KA-3012-Prime Minister’s Youth Business Loan Scheme from development expenditure of Finance Division in favour of development expenditure outside the Public Sector Development Programme during the current financial year.

It also approved a proposal by the Planning, Development and Reform Division for surrender of funds amounting to Rs2 billion from its demand related to SDGs Achievement Programme (SAP) in favour of the Planning, Development and Reform Division for the year 2019-20 as a Technical Supplementary Grant to meet the requirements of important projects without affecting the overall PSDP allocation of the federal government.

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