Finance Ministry refutes news about wheat procurement target

ISLAMABAD: In response to reports appearing in a section of the press, the Finance Ministry here on Saturday clarified that there had been no delay in the decision-making process regarding wheat procurement targets, ARY News reported.

“News stories appearing in a section of the press have given the misleading impression that ECC has delayed the decision on wheat procurement targets. There is no truth to these assertions,” the ministry said in a statement issue here.

The Economic Coordination of the Committee (ECC) of the Cabinet discussed the matters related to wheat procurement in its meeting held on April 4, 2024 and after considering the views of the relevant federal ministries, the members of the ECC felt that it would be advisable to include the provincial governments in the deliberations, as they would be responsible to implement the decisions on the ground.

The meeting was therefore reconvened on April 5 and representatives of all the provincial governments participated, the statement added.

They provided updates to the committee on the latest situation relating to procurement of wheat in their respective areas and apprised it of their requirements for bank credit for the purpose.

The committee after detailed deliberations approved the procurement target proposed by the Ministry of Food Security and the provinces and the cash credit limits required for the purpose.

The relevant departments did not suggest any enhancement or reduction in targets presented by the Ministry of Food Security, neither did the ECC approve any such change.

The government of Punjab informed the Committee that it was closely monitoring the wheat situation in the province and had initiated procurement process. They further informed that the provincial government would continue to intervene to make sure that farmers are able to sell their produce at the support price level.

The ECC in its inaugural meeting resolved that all the matters brought before it would be deliberated in detail with a view to make informed decisions, instead of rushing through and rubber-stamping hasty measures.

The Committee would also continue to ensure that all the stakeholders are onboard before arriving at decisions which have far reaching implications. The detailed discussions during the meetings of the ECC on April 4 and 5, 2024 are reflective of this policy.