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Hafeez Shaikh to chair ECC meeting tomorrow

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh will chair a meeting of Economic Coordination Committee (ECC) on Wednesday (tomorrow), ARY NEWS reported.

During the meeting, the committee would mull over a four-point agenda which include deciding on the matter of wheat support price for the growers in the upcoming season.

It is pertinent to mention here that the federal authorities on Monday recommended fixing wheat support price at Rs 1365 per 40 kilograms.

The decision was made in a meeting to review wheat prices chaired by Federal Minister for National Food Security Makhdoom Khusro Bakhtiar.

The committee expressed its satisfaction over the current wheat procurement as it was briefed that around 2352 million tones of wheat is present in the stocks.

The meeting chaired by the federal adviser would mull over the matter the matter and decide on the wheat support price.

Moreover, the top consultative committee meeting would also discuss the recommendations on petroleum sector along with mulling over budget estimates of NTCC for the next financial year.

During the last ECC meeting on February 10, the committee imposed immediate ban on export of the essential commodity.

Read More: Govt announces major cut in petrol, diesel prices  

The meeting headed by Abdul Hafeez Shaikh observed that adequate stocks of sugar are available in the country but prices in both domestic and international market are showing an upward trend.

According to a statement issued by the ministry, ECC further directed that in case there is considerable decrease in available stock, ECC would be willing to reconsider the proposal for import of sugar as well as the removal of tariff and taxes on subject import.

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