ECC approves wheat import weighing 300 thousand tons

ECC approves wheat import weighing 300 thousand tons during its meeting in Islamabad today.

Economic Coordination Committee (ECC) held its meeting in Islamabad (Monday).

ECC approves wheat import

It accorded approval to import of three hundred thousand tons of wheat.

Adviser on Finance Hafeez Sheikh presided over the meeting.

The authorities concerned informed the ECC that the first shipment of wheat likely to reach the country by 15th of next month.

Meanwhile, the committee asked Punjab and PASSCO to release their stocks to overcome wheat shortage in the country.

Furthermore, the officials also informed that Punjab and PASSCO have wheat stocks of forty one lakh tons.

The Economic Coordination Committee also approved Gas Infrastructure Development Cess (GIDC) waiver of four hundred rupees per bag to ensure supply of cheap fertilizers to the farmers.

Cruel joke with nation

To many in Pakistan, the ECC announcement is nothing but a cruel joke because the federal minister earlier claimed sufficient wheat stock to meet domestic needs is available.

Minister for National Food Security Khusro Bakhtiar said, while addressing a news conference in Islamabad.

Minister claims sufficient wheat

He also expressed firm resolve to take strict action against those involved in hoarding and profiteering.

He further warned of stern action against those creating artificial crisis of the commodity in domestic markets.

The Minister said current scenario of wheat and flour emerged due to multiple reasons.

He referred to transporters’ strike in Karachi which effected supply in local markets of Sindh.

Furthermore, he pointed to the ban on movement of wheat between Punjab and Khyber Pakhtunkhwa to curb its smuggling.

However, he also noted that the government also addressed both the causes.