ECC and cabinet to decide increase in minimum support price of wheat

ECC and cabinet to decide increase in minimum support price of wheat for next crop.

Foreign Minister Makhdoom Shah Mehmood Qureshi made this announcement on Wednesday.

He was addressing a press conference in Islamabad. Minister for National Food Security and Research Syed Fakhar Imam and Minister for Industries and Production Hammad Azhar accompanied him.

ECC and cabinet to decide increase in minimum support price

Qureshi said the government remain cognizant of enhanced cost of production and prices in the international market.

Therefore, to encourage growers, government is considering to increase the minimum support price of wheat.

He said they would take up the matter during the upcoming meetings of the ECC and the Federal Cabinet.

Economic Coordination Committee of the Cabinet would meet on Monday, while the cabinet would meet on Tuesday.

Besides encouraging the wheat growers to cultivate more wheat, the increase in minimum support price would also help augment the production and supply of this vital commodity in the country.

The minister further said that the government was not oblivious of its responsibility of brining in stability in the prices of basic essential items, including wheat and sugar and was taking all possible measures in that respect.

Gap in demand and supply

Moreover, Shah Mahmood attributed the current increase in the prices of wheat, flour and sugar to the gap in demand and supply that caused speculation.

He said the government would not let the hoarders and profiteers to benefit from the situation through various administrative measures

The minister also referred to decisions taken during the high-level meeting presided over by Prime Minister Imran Khan on Tuesday.

He said that Punjab would release an additional 2000 tons of wheat to the flour millers on daily basis.

It aims to check the price of wheat flour the government of

Besides, he said the government of Sindh has also finally decided to release 10,000 tons of wheat per day from its stocks.

It would help stabilize the supply and prices of wheat and wheat flour in Karachi and interior Sindh.

The FM said the federal government was taking all possible measures to check the prices of essential items.

However, he said a well-coordinated and joint effort of the federal and provincial governments remain needed for stabilization of prices in the country.

Zero-rate import of sugar

About sugar, he said the federal government had taken various measures including allowing zero-rate import of the commodity to check its prices.

The Foreign Minister said that the government, in order to benefit the poor and low income groups, would also ensure increased availability of wheat flour and sugar at subsidized rates at utility stores outlets across the country.

To a question, Qureshi said, the opposition after failing to get relief or NRO (National Reconciliation Ordinance) through amendments in NAB (National Accountability Bureau) had changed their views and were now criticizing the government on different issues.

He reminded the opposition parties that the current situation in different sectors including that of agriculture or others was not worsened during the last two years but was a backlog of the two previous regimes.

The Foreign Minister, however, maintained that the government with the blessings of Allah Almighty was committed to tackle all the challenges including the price-hike.

GTV