ISLAMABAD: The Economic Coordination Committee (ECC) has denied the reports surrounding delay in the decision making regarding wheat procurement.
Addressing concerns, the ECC clarified that discussions were held on April 4, 2024, regarding wheat procurement, with subsequent reconvening on April 5 to include Provincial government representatives in the discourse.
Earlier, it was decided in the ECC to reduce Pakistan’s wheat procurement target by more than 69%, sparking concerns of future shortages.
The decreased target is reported to have been set after Punjab refused to put forth its procurement targets citing outstanding debts from past purchases.
However, according to a statement by the Ministry of Commerce, the ECC endorsed the procurement targets put forth by the Ministry of Food Security and the provinces, alongside approving the necessary cash credit limits for execution.
Crucially, no proposals for augmenting or diminishing targets were tabled, nor were any such alterations sanctioned by the ECC.
The Government of Punjab reaffirmed its commitment to vigilantly monitoring the wheat situation within the Province and promptly initiating procurement procedures. Additionally, they pledged to ensure farmers’ ability to vend their yield at the support price level.
Furthermore, the Committee reiterated its pledge to engage all stakeholders in decisions with substantial ramifications.
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