The Economic Coordination Committee (ECC) approves additional 400,000 tons wheat procurement, along with import approval for 200,000 tons of urea and allocation of Rs.144 billion in supplementary grants.
Finance Minister Muhammad Aurangzeb chairing ECC meeting, addresses crucial agricultural and industrial concerns. Notably, the committee defers subsidized gas supply to domestic urea manufacturers, citing potential benefits of up to 600,000 tons in local production.
In a bid to bolster strategic food reserves, ECC ramps up Passco’s wheat procurement target to 1.8 million tons, allocating Rs.41.5 billion for the purchase. This move aims to augment ongoing procurement efforts, particularly after the Punjab government’s non-intervention amid farmer unrest.
Additionally, ECC approves the import of 200,000 tons of urea to meet the demands of the upcoming kharif season, emphasizing continuous assessment of urea supply and demand dynamics.
Further decisions include disbursing six months’ salaries to Pakistan Steel Mills workers, clearing tariff subsidy arrears for K-Electric and Azad Jammu and Kashmir, and allocating funds for the Special Relief Package for Daily Wage Workers at the Chaman Border.
Supplementary grants are also sanctioned for various sectors, including support for Pakistan Atomic Energy Commission, Earthquake Reconstruction and Rehabilitation Authority, and financial cover for World Bank-funded projects.
Moreover, ECC assents grants for Islamabad’s public building maintenance and rehabilitation of ex-FATA’s displaced persons, underscoring government initiatives for infrastructural development and welfare.
