The Federal Cabinet has approved the import of 3 million metric tons of wheat in its meeting to meet any shortages in the country.
The proposal to import wheat had earlier been approved by the Economic Coordination Committee of (ECC) the cabinet, keeping in mind the global shortage of wheat. The committee had suggested that the decision to import wheat should be made timely to take advantage of the favorable price swings.
In the meeting, the cabinet also directed the concerned authorities to monitor fares of public transport as the prices of petroleum goods had been reduced. The members of the committee were of the view that the public should be provided with maximum relief from the reduction in international oil prices.
Keeping this in view, the Prime Minister announced a reduction in petroleum prices on Thursday. The price of petrol has been decreased by Rs. 18.50 per liter from Rs. 248.74 to Rs. 230.24 per liter, whereas High-Speed Diesel (HSD) prices have been reduced by Rs. 40.54 per liter.
Under the chairmanship of Prime Minister Shehbaz Sharif, the cabinet congratulated the Ministry of Finance and the Ministry of Foreign Affairs on reaching an agreement with the International Monetary Fund (IMF) for the revival of the program.
The cabinet, in its press release, said that the program would stabilize the economy and improve the lifestyle of the poor segment of society. A similar statement had been given by Director Communication IMF, Gerry Rice, earlier today in Washington.
On the issue of recent floods in different areas of the country, the cabinet appreciated all the departments involved in ground operations to save public lives and further directed the institutions to coordinate to resolve the issues of the victims.
The cabinet also approved an amnesty for Pakistanis residing in foreign countries during the meeting.