Pakistan: ECC approves import of three million metric tons of milling wheat

The Economic Coordination Committee has approved import of three million metric tons of milling wheat and allowed for maintenance of strategic reserves of wheat at the level of two million metric tons.

The ECC, which met in Islamabad on Tuesday with Finance Minister Miftah Ismail in the chair, accorded this approval to ensure wheat availability across the country and to stabilize local wheat prices.  The strategic reserves will include a quantity of 0.080 MMT on account of SAARC food bank. Furthermore, the Trading Corporation of Pakistan was directed to arrange a further quantity of 0.8 MMT through government to government or open tender. It was added that import of 0.8 MMT wheat is allowed to private sector with proviso that subsidy shall not be provided for such imports of wheat.

The forum approved disbursement of 25,000 rupees per family in calamity affected districts under Benazir Income Support Programme.

The ECC also approved technical supplementary grant of seven million rupees for arrangements and expenditure related to on-site visit of Financial Action Task Force team. It was shared that FATF team comprising 15 members will visit by Friday in order to verify the stance of Pakistan as reported in cyclic reports.

Tags: prices, Pakistan, wheat, milling wheat, Economic Coordination Committee, strategic reserves, ECC, импорт