ECC meeting to review flour shortage issue today

ISLAMABAD: Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh will chair the meeting of the Economic Coordination Committee (ECC) of the Cabinet today (Monday), to discuss seven-point agenda, ARY News reported.

According to sources, the meeting will review the situation of flour shortage and wheat crisis and is expected to give go ahead to import 0.3ton wheat to cater the shortage in the country.  The elimination of 5 percent tax on cotton boll will also come under discussion during the meeting.

The proposal to convert Lahore Garment City’s loan into grant will also come under consideration.

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The meeting will also review the technical grant of Rs 90 million to the National Book Foundation.

The country is facing mind-boggling hike in wheat flour prices as rates soared in Karachi, Lahore, Multan, Faisalabad, Peshawar and other major cities, causing an uproar across the country.

The wheat flour rate in Karachi has soared to Rs 70 per kilogramme.

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Taking notice of reports regarding hike in prices of wheat flour, Prime Minister Imran Khan on Saturday ordered a country-wide crackdown on hoarders and profiteers.

He directed the officials to take effective measures for stabilising the rates of wheat flour, the sources said and added that those involved in creating an artificial crisis of flour in the country will be dealt with iron hands.