- Advertisement -
ISLAMABAD, Jan 28 (APP):The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the disposal of 500,000 metric tons of PASSCO wheat stock through competitive bidding, with the objective of managing surplus stocks, reducing carrying and storage costs, and ensuring price stability in the domestic wheat market while safeguarding food security considerations.
The ECC met under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb to consider a range of important economic, fiscal and sectoral matters aimed at ensuring macroeconomic stability, protecting consumers, strengthening social services and addressing operational requirements of key public sector entities.
The meeting was attended by Minister for National Food Security and Research Rana Tanveer Hussain, Minister for Investment Qaiser Ahmed Sheikh, along with federal secretaries and senior officials from the concerned ministries, divisions and regulatory bodies, said a press release.
During the meeting, the ECC approved the disposal of 500,000 metric tons of PASSCO wheat stock through competitive bidding, with the objective of managing surplus stocks, reducing carrying and storage costs, and ensuring price stability in the domestic wheat market while safeguarding food security considerations.
In a related decision, the committee approved the provision of 300,000 metric tons of PASSCO wheat to the Food and Consumer Protection Department of the Government of Punjab, aimed at maintaining adequate wheat supplies for flour mills, stabilizing prices and ensuring uninterrupted availability of wheat flour to consumers.
The ECC also considered and approved funds required for clearing outstanding liabilities of utility companies against the Pakistan Post Office Department (PPOD), authorizing the release of Rs. 10.98 billion as a Technical Supplementary Grant to address long-pending payables accumulated over several years.
In the health sector, the Committee approved a Technical Supplementary Grant amounting to Rs 29.663 billion for the Federal Directorate of Immunization under the Ministry of National Health Services, Regulations and Coordination to ensure uninterrupted procurement of vaccines and syringes under the Expanded Programme on Immunization.
The approval aims to sustain routine immunization coverage across the country, prevent outbreaks of vaccine-preventable diseases, and meet Pakistan’s international commitments in public health.
The ECC further approved the sharing of subsidy on imported urea at a 50:50 basis between the Federal Government and provincial governments through a Technical Supplementary Grant of Rs. 23.42 billion requested by the Ministry of Commerce. Of this amount, Rs. 15 billion will be released by the Finance Division, while the remaining amount will be arranged subject to fiscal space.
In the housing and development sector, the Committee approved a Technical Supplementary Grant of Rs. 1.9 billion in favour of the Ministry of Housing and Works for meeting capital outlay under the Sustainable Development Goals Achievement Programme for execution of development schemes in Khyber Pakhtunkhwa through Pakistan Infrastructure Development Company Limited, aimed at accelerating infrastructure development and improving service delivery.
The ECC also approved a Technical Supplementary Grant of Rs. 150 million in favour of Cadet College Hasan Abdal under the Ministry of Federal Education and Professional Training to meet operational and developmental requirements and ensure the smooth functioning of the institution.
Finally, the ECC approved the distribution of confiscated solar panels by the Federal Board of Revenue to the Government of Gilgit-Baltistan, along with the associated transportation and distribution plan, to help address electricity shortages in the region, promote renewable energy solutions, and support public service facilities through sustainable power generation.