ECC approves minimum wheat support-price as Rs1650 per 40kg

ISLAMABAD (Web Desk) - Economic Coordination Committee (ECC) has approved minimum support-price for the wheat crop as 1650 rupees per 40 kg.

The decision was taken at ECC meeting which met in Islamabad on Friday with Prime Minister's Adviser on Finance Dr Abdul Hafeez Shaikh in the chair.

The meeting maintained the current release price at 1475 rupees per 40 kilogrames. Economic Coordination Commission also approved grinding ratio of wheat at the base level of 70:30.

It was further decided that ratio for the refined varieties of wheat flour will be decided by the Coordination Committee. It granted approval for aggregate release of 38,000 metric tons of wheat per day to the flour mills.

This release will include 25,000 MT by Punjab, 8,000 MT by Sindh, 4,000 MT by Khyber Pakhtunkhwa and 1,000 MT by Balochistan.

The meeting accepted government of Punjab's requestof providing additional 0.7 MMT of wheat, out of which 0.4 MMT of wheat will be imported by Trading Corporation of Pakistan for Punjab.

Lastly, technical supplementary grant for the settlement of outstanding dues of non-litigant retired employees of Pakistan Steel Mills amounting to 11.680 billion rupees was also approved by the ECC.