ECC constitutes committee to review cotton prices

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ISLAMABAD, Aug 8 (APP):In addition to taking several other decision, the Economic Coordination Committee (ECC) of the Cabinet Thursday decided to constitute a Price Review Committee headed by Advisor Ministry of Commerce and Textile, to review and suggest the indicative price and other measures to be taken in case of abnormal fluctuations in the cotton prices.

The Committee which was chaired by Dr. Abdul Hafeez Shaikh, took this decision on a summary of Ministry of National Food Security and Research (MNF&R) that sought minimum support price for cotton to protect the local farmers and encourage cotton cultivation in the country.

The ECC was also briefed by the Ministry on the wheat situation in the country, saying that PASSCO and provincial food departments had reported wheat stocks at the level of 7.519 million tones as on August 2nd, 2019 as compared to 11.183 million tons during the corresponding period last year.