ISLAMABAD: The Economic Coordination Committee (ECC) has approved the disposal of 500,000 metric tonnes of PASSCO wheat stock through competitive bidding, with the objective of managing surplus stocks, reducing carrying and storage costs and ensuring price stability in the domestic wheat market while safeguarding food security considerations.
In a related decision, the committee approved the provision of 300,000 metric tonnes of PASSCO wheat to the Food and Consumer Protection Department of the Government of Punjab.
The Economic Coordination Committee (ECC) of the cabinet met on Wednesday at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. The meeting considered a range of important economic, fiscal and sectoral matters aimed at ensuring macroeconomic stability, protecting consumers, strengthening social services and addressing operational requirements of key public sector entities.
The ECC considered and approved funds required for clearing outstanding liabilities of utility companies against the Pakistan Post Office Department (PPOD), authorising the release of Rs10.98 billion as a Technical Supplementary Grant to address long-pending payables accumulated over several years.
In the health sector, it approved a Technical Supplementary Grant amounting to Rs29.663 billion for the Federal Directorate of Immunisation under the Ministry of National Health Services, Regulations and Coordination. This is to ensure uninterrupted procurement of vaccines and syringes under the Expanded Programme on Immunisation. The approval aims to sustain routine immunisation coverage across the country, prevent outbreaks of vaccine-preventable diseases and meet Pakistan’s international commitments in public health.
The ECC further approved the sharing of subsidy on imported urea on a 50:50 basis between the federal government and provincial governments through a Technical Supplementary Grant of Rs23.42 billion requested by the Ministry of Commerce. Of this amount, Rs15 billion will be released by the Finance Division, while the remaining amount will be arranged subject to fiscal space.
In the housing and development sector, the committee approved a Technical Supplementary Grant of Rs1.9 billion in favour of the Ministry of Housing and Works for meeting capital outlay under the Sustainable Development Goals Achievement Programme.
The ECC also approved a Technical Supplementary Grant of Rs150 million in favour of Cadet College Hasan Abdal under the Ministry of Federal Education and Professional Training to meet operational and developmental requirements and ensure the smooth functioning of the institution.
Finally, the ECC approved the distribution of confiscated solar panels by the Federal Board of Revenue to the Government of Gilgit-Baltistan, along with the associated transportation and distribution plan.
