The Economic Coordination Committee (ECC) of the Cabinet allowed export 0.5 million tons of wheat by PASSCO and provincial governments of Punjab and Sindh.
The meeting of ECC was held here with Finance Minister Asad Umar in the chair.
The committee discussed the proposal submitted by the Ministry of National Food Security & Research regarding the export of surplus wheat/products as requested by the provincial governments of Punjab and Sindh and Pakistan Agriculture Storage and Services Corporation (PASSCO).
The Committee granted approval for export of 0.5 million tons of wheat by PASSCO and both provincial governments. It was decided that any financial support for freight etc. requested for the purpose will be provided by the respective provincial governments.
The Federal Government will afford such costs in the case of PASSCO only.
Further, a committee comprising senior officials from Commerce, Finance and Food Security Ministries will review the situation in two weeks’ time and make a recommendation for further exports, if required.
A four-point agenda, including the approval of additional wheat in the government sector, reports on sugarcane price and production cost of sugar was before the committee.
The meeting also reviewed the subsidy on sugarcane and considered its new price.