The Economic Coordination Committee (ECC) of the cabinet Wednesday directed that strict action should be taken against the fertilizer dealers overcharging the farmers beyond the prescribed price.
Federal Minister for Finance Dr Shamshad Akhtar presided over the meeting of the ECC. Pakistan Bureau of Statistics, Ministry of Planning, Development, and Special Initiatives briefed the ECC on the inflation situation. The key price indicators were submitted for the information of ECC.
It was informed that inflationary pressures are continuing to persist; however, it declined from its peak of 38 percent in May 2023. Recent energy price adjustments have thwarted a downward trajectory and inflations spiked in November 2023 to 29.2 percent. Inflationary expectations are lowest in almost 12 months and exchange rate stability has played an important role in it.
ECC directed the relevant ministries to work with provinces to ensure the availability of fertilizer to farmers at notified rates. It was also directed that strict action should be taken against the fertilizer dealers overcharging the farmers beyond the prescribed price.
The committee considered a summary of the Ministry of Energy (Power Division) regarding approval of the draft PPAA, ICA, TDA and Mediation Agreements to be signed with the K-Electric.
The Power Division informed the Committee that the Agreements had been prepared on the recommendations of the Task Force constituted by the prime minister for resolving issues between KE and various government entities. The signing of the agreements would resolve long pending issues and regular payment would be streamlined by all the parties to avoid an addition to the circular debt.
The committee discussed the draft agreements in detail and asked the Power Division to provide further information and detailed working to clarify the observations raised by ECC. The matter will be discussed again in the next meeting once additional information is provided.
The meeting was attended by the Minister of Planning Sami Saeed, the Minister for Privatization Fawad Hasan Fawad, Minister for Power and Petroleum Muhammad Ali, Advisor to PM on Finance Dr Waqar Masood, Federal Secretaries, and other senior government officials of the relevant ministries.
Source: Pro Pakistani
