The Economic Coordination Committee (ECC) on Wednesday approved the disposal and allocation of large quantities of wheat, including the sale of 500,000 metric tons of PASSCO wheat through competitive bidding and the provision of 300,000 metric tons to Punjab, as part of measures to manage surplus stocks, stabilize prices and ensure national food security.
The ECC of the Cabinet met at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb to review key economic, fiscal and sectoral matters aimed at maintaining macroeconomic stability, protecting consumers, strengthening social services and addressing operational needs of public sector entities.
During the meeting, the ECC approved the disposal of 500,000 metric tons of Pakistan Agricultural Storage and Services Corporation (PASSCO) wheat stock through competitive bidding. The decision aims to manage surplus stocks, reduce storage and carrying costs, ensure price stability in the domestic wheat market and safeguard food security.
In a related move, the Committee approved the provision of 300,000 metric tons of PASSCO wheat to the Food and Consumer Protection Department of the Government of Punjab. The measure is intended to maintain adequate wheat supplies for flour mills, stabilize market prices and ensure the uninterrupted availability of wheat flour for consumers.
The ECC also approved funds to clear outstanding liabilities of utility companies against the Pakistan Post Office Department (PPOD), authorizing the release of Rs. 10.98 billion as a Technical Supplementary Grant to settle long-pending payables accumulated over several years.
In the health sector, the Committee approved a Technical Supplementary Grant of Rs. 29.663 billion for the Federal Directorate of Immunization under the Ministry of National Health Services, Regulations and Coordination. The funding will ensure uninterrupted procurement of vaccines and syringes under the Expanded Programme on Immunization, sustain routine immunization coverage, prevent outbreaks of vaccine-preventable diseases and help meet Pakistan’s international public health commitments.
The ECC further approved the sharing of subsidy on imported urea on a 50:50 basis between the federal and provincial governments through a Technical Supplementary Grant of Rs. 23.42 billion requested by the Ministry of Commerce. Of this amount, Rs. 15 billion will be released by the Finance Division, while the remaining amount will be arranged subject to fiscal space.
In the housing and development sector, the Committee approved a Technical Supplementary Grant of Rs. 1.9 billion for the Ministry of Housing and Works to meet capital outlay under the Sustainable Development Goals Achievement Programme. The funding will support the execution of development schemes in Khyber Pakhtunkhwa through Pakistan Infrastructure Development Company Limited, aimed at accelerating infrastructure development and improving service delivery.
The ECC also approved a Technical Supplementary Grant of Rs. 150 million for Cadet College Hasan Abdal under the Ministry of Federal Education and Professional Training to meet operational and development requirements and ensure smooth functioning of the institution.
Finally, the Committee approved the distribution of confiscated solar panels by the Federal Board of Revenue to the Government of Gilgit-Baltistan, along with the related transportation and distribution plan. The initiative aims to help address electricity shortages in the region, promote renewable energy solutions and support public service facilities through sustainable power generation.
The meeting was attended by Federal Minister for National Food Security and Research Rana Tanveer Hussain, Federal Minister for Investment Qaiser Ahmed Sheikh, along with federal secretaries and senior officials from relevant ministries, divisions and regulatory bodies.
