ECC okays wheat procurement targets for 2024

ISLAMABAD: The Economic Coordination Committee (ECC) on Friday approved the wheat procurement plan for the ongoing year 2024, ARY News reported.

The ECC meeting, held in Islamabad with Finance Minister Muhammad Aurangzeb in the chair, approved the summary moved by the National Food Security Ministry.

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