ISLAMABAD: The Finance Division has refuted the misleading impression circulating on media that the Economic Coordination Committee (ECC) has delayed the decision on wheat procurement targets.

In a press release on Saturday, it said there is no truth to these assertions. The Finance Division said ECC of the Cabinet discussed the matters related to wheat procurement in its meeting held on Thursday.

After considering the views of the relevant Federal Ministries, the members of the ECC felt that it would be advisable to include the Provincial governments in the deliberations, as they would be responsible to implement the decisions on the ground.

The meeting was therefore reconvened on Friday and representatives of all the Provincial governments participated. They provided updates to the Committee on the latest situation relating to procurement of wheat in their respective areas and apprised it of their requirements for bank credit for the purpose.

The Committee after detailed deliberations approved the procurement target proposed by the Ministry of Food Security and the Provinces and the cash credit limits required for the purpose.

The relevant departments did not suggest any enhancement or reduction in targets presented by the Ministry of Food Security, neither did the ECC approve any such change.

The Government of Punjab informed the Committee that it is closely monitoring the wheat situation in the Province and had initiated procurement process.

They further informed that the provincial government would continue to intervene to make sure that farmers are able to sell their produce at the support price level, the press release concluded.