ECC constitutes eight-member committee to decide wheat support price

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has constituted an eight-member committee to thoroughly evaluate the proposal for the increase in the Minimum Support Price (MSP) of wheat for the 2020-21 crops.

The meeting chaired by Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh announced that Syed Fakhar Imam, Dr. Hafeez Shaikh, Dr. Ishrat Hussain, Dr. Waqar Masood, Nadeem Baber, Abdul Razzaq Dawood, Asad Umar and Khusroo Bakhtiar would be members of the committee.

The committee would also prepare a proposal on subsidy on fertilizers, mainly DAP, which would be offered as a part of the package for the farmers so that their input cost is reasonable/reduced.

The ECC also decided that the provinces should increase wheat releases to stabilize/reduce the price of flour in the market.

The committee would present its proposal in the next meeting of ECC, according to a press statement issued by the Finance Ministry.

Earlier, the Ministry of National Food Security and Research briefed the ECC on different estimates, compiled from Punjab, KP, Balcohistan and the Federal Capital.

During the discussion, it also came to the fore that there was a need to increase the MSP to support the farmers and to grow enough quantities in the next sowing season.

The ECC decided that the provinces should increase the wheat releases to stabilize/reduce the price of flour in the market.