ECC meeting: important decisions related to the country's economy

 

The Economic Co-ordination Committee (ECC) has taken important decisions related to the national economy, including raising the support price of wheat, electricity tariffs and payments to power companies.

A meeting of the ECC was held under the chairmanship of Dr. Abdul Hafeez Sheikh, Advisor to the Prime Minister on Finance, in which an increase of Rs. 200 in the support price of wheat was approved.

According to the statement, after the approval of the ECC, the new aid price has gone up to Rs 1,600 per man, which was earlier fixed at Rs 1,400.

It was informed in the briefing given to the participants of the meeting that the support price of wheat has been revised four times since 2010.

According to the ECC statement, the 50 per cent tariff subsidy difference of the power division was also approved on the occasion.

According to the statement, it was decided that Rs 65.80 billion to be given to the power division would be given to the power generating companies.

On this occasion, approval has also been given to provide additional power to industries at Rs. 12.96 per unit.

The participants were briefed by the Trading Corporation of Pakistan (DCP) on wheat imports and said that by January 2021, the company would import 1 million metric tonnes of wheat.

According to an ECC statement, the meeting also approved to increase the import volume of wheat from 1.5 million metric tonnes to 1.8 million metric tonnes at the request of the Ministry of Food Security.

According to the statement, it has been decided to import 300,000 tonnes of wheat from Russia at the government level and also approved the proposal of the Food Ministry to import another 320,000 tonnes of wheat from Russia.