ECC Okays wheat procurement plan for ongoing year 2024

Islamabad: The Economic Coordination Committee (ECC) on Friday endorsed the wheat procurement plan for the ongoing year 2024.

The ECC meeting chaired by Finance Minister Muhammad Aurangzeb greenlit the summary presented by the National Food Security Ministry.

The committee sanctioned the wheat procurement targets for PASSCO, Sindh, and Balochistan provinces, along with approving a cash credit limit for wheat purchase.

The procurement targets for 2024 are set at 2.45 million metric tons (MMT), with contributions from PASSCO, Sindh, and Balochistan at 1.40 MMT, 1.00 MMT, and 0.050 MMT, respectively. The allocated cash credit limits amount to Rs169.00 billion for PASSCO, Rs100.00 billion for Sindh, and Rs5.70 billion for Balochistan.

Besides it, the ECC session approved technical supplementary grants for various ministries.

This plan is devised to ensure the seamless acquisition of wheat within the specified timeframe, vital for maintaining stable food reserves across the country.