The Economic Coordination Committee has accorded approval to increase the wheat procurement target for PASSCO from 1.40 to 1.80 Million Metric Tons along with the required Cash Credit Limit for the purchase of additional quantity.

The approval was granted during today’s meeting of ECC that was held in Islamabad with Finance Minister Senator Muhammad Aurangzeb in the chair.

The approval would help PASCCO scale up its on-going wheat procurement drive.

The ECC also approved the proposal for import of 200,000 MTs of Urea fertiliser to meet the requirements for Kharif 2024 as proposed by Ministry of Industries and Production.

The Ministry was also directed to continuously assess the demand and supply situation of urea and suggest appropriate measures to the ECC in a timely manner.

The forum also gave go-ahead to Ministry of Industries and Production’s request for the disbursement of salaries of PSM workers and directed the Ministry to present a detailed plan for the future use of the asset alongwith timeline
s.

The ECC also allowed Power Division’s request for release of budgeted expenditures to clear the arrears of tariff differential subsidy 70 billion rupees for KE and 55 billion rupees for AJK.

This would help ease the liquidity requirements of the Power Sector.

It considered a summary to authorize BISP to arrange funds from its allocated budget for financing the Special Relief Package for Daily Wage Workers on the Chaman Border, highlighting government support for the vulnerable group.

Further, the ECC considered and approved proposals for Technical Supplementary Grants, including 4.8 billion rupees for Pakistan Atomic Energy Commission, 5.8 billion rupees for the Earthquake Reconstruction and Rehabilitation Authority’s to clear matured liabilities of the contractors and 3.2 billion rupees to Finance Division.

Source: Radio Pakistan