ECC decides to impose ban on export of wheat

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet, here on Wednesday.

A report on the wheat situation in the country was presented in the ECC by Ministry of National Food Security and Research.

It was briefed during the meeting that adequate stocks of wheat are available in the country to cater for the needs of the population. It was also highlighted that the procured quantity of wheat during this year is 33% less than the procured quantities of wheat during the corresponding periods of last year.

The recent hike in prices of wheat and wheat flour is also a point of concern. The ECC decided to impose a ban on export of wheat/wheat flour and also asked that a meeting of National Price Monitoring Committee may be convened to suggest measures to control the price hike trend of ‘Roti’ and other wheat products in the local market with the cooperation of the provincial governments.

The ECC also approved National Fertilizer Marketing Limited (NFML) to fix the Dealer Transfer Price (DTP) of 50 kg imported Urea Bag at Rs.1800 which is Rs.166 less than the prevailing average market price of Sona Urea i.e. Rs.1966 per 50 kg bag.

The difference in Urea import price and approved dealer transfer price for NFML dealers has been estimated at Rs.937.92 million; NFML has also been directed to ensure enforcement of this price through coordination with provincial governments.

The ECC allowed PIA Corporation Limited to make a re-appropriation in its already approved budget of Rs.24 billion for the upgradation of in-flight entertainment (IFE) system of its fleet for 8 Boeing-777 aircrafts.

The ECC endorsed the decision of the Governing Council of Pakistan Bureau of Statistics to change the base of price statistics from 2007-08 to 2015-16.

Among others, the meeting was attended by Minister for National Food Security & Research, Sahibzada Muhammad Mehboob Sultan; Minister for Planning, Development & Reform, Makhdoom Khusro Bukhtiar, Minister for Privatization, Muhammad Mian Soomro, Minister for Railways, Sheikh Rashid Ahmed, Adviser to PM on Commerce, Textile, Industry & Production and Investment, Abdul Razak Dawood; Adviser on Institutional Reforms and Austerity, Dr. Ishrat Hussain; SAPM on Petroleum, Nadeem Babar; Governor State Bank of Pakistan, Reza Baqir and Chairman, Board of Investment, Zubair Gilani.