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ECC allows export of 0.5 million tons of wheat

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday gave the go-ahead to export of 0.5 million tons of wheat.

Finance Minister Asad Umar presided over a meeting of the ECC in the federal capital today.

The ECC discussed the proposal submitted by the Ministry of National Food Security & Research regarding export of surplus wheat/products as requested by the provincial governments of Punjab and Sindh and PASSCO.

The committee granted an approval for export of 0.5 million tons of wheat by PASSCO and both the 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 bear the cost to be incurred on export of wheat by PASSCO only. Further, a committee comprising senior officials from Commerce, Finance and Food Security will review the situation in two week’s time and make recommendation for further exports, if required.

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