Punjab nowhere in wheat procurement targets

The federal cabinet’s Economic Coordination Committee (ECC) Friday approved the wheat procurement plan for the year 2024, reported 24NewsHD TV channel.

According to sources, the ECC meeting was held in Islamabad under the chair of Finance Minister Muhammad Aurangzeb and decided on a summary moved by the National Food Security Ministry.

The meeting okayed the wheat procurement target for the PASSCO, Sindh, and Balochistan provinces in 2024.

ECC also approved a cash credit limit for the purchase of wheat.

For 2024, procurement targets stand at 2.45 million metric tons (MMT), with PASSCO, Sindh, and Balochistan contributing 1.40 MMT, 1.00 MMT, and 0.050 MMT respectively.

The allocated cash credit limits are Rs169.00 billion for PASSCO, Rs100.00 billion for Sindh, and Rs5.70 billion for Balochistan.

This plan aims to ensure the smooth acquisition of wheat during the designated period, crucial for maintaining stable food reserves in the country.

The key ECC session also approved technical supplementary grants for different ministries.

Earlier, Prime Minister (PM) Shehbaz Sharif reconstituted the federal cabinet’s Economic Coordination Committee (ECC).

According to the official notification, the Economic Coordination Committee has been reconstituted and Federal Finance Minister Muhammad Aurangzeb was appointed as its chairman.

The notification stated that the finance minister will head the panel with the four other ministers including economic affairs, commerce, power, petroleum, and planning, development, and special initiatives, notified as its members.