ISLAMABAD, Jan 28: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the disposal of 500,000 metric tons of PASSCO wheat stock through competitive bidding. This step aims to manage surplus stocks, decrease carrying and storage costs, stabilize prices in the domestic wheat market, and ensure food security.
The ECC meeting, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, addressed critical economic, fiscal, and sectoral issues to ensure macroeconomic stability, consumer protection, enhancement of social services, and the operational requirements of key public sector entities.
Notable attendees included Minister for National Food Security and Research Rana Tanveer Hussain, Minister for Investment Qaiser Ahmed Sheikh, along with federal secretaries and senior officials from relevant ministries and regulatory bodies.
The committee also authorized providing 300,000 metric tons of PASSCO wheat to the Government of Punjab’s Food and Consumer Protection Department. This decision is aimed at maintaining sufficient wheat supplies for flour mills, stabilizing prices, and ensuring the uninterrupted availability of wheat flour to consumers.
Additionally, the ECC approved funds to clear the outstanding liabilities of utility companies against the Pakistan Post Office Department (PPOD), authorizing a release of Rs. 10.98 billion as a Technical Supplementary Grant to resolve the longstanding payables issue.
In the health sector, a Technical Supplementary Grant amounting to Rs 29.663 billion was approved for the Federal Directorate of Immunization under the Ministry of National Health Services, Regulations, and Coordination. This funding ensures uninterrupted procurement of vaccines and syringes under the Expanded Programme on Immunization, aiming to maintain routine immunization coverage nationwide, prevent outbreaks, and fulfill Pakistan’s international public health commitments.
The ECC also agreed to a 50:50 subsidy on imported urea shared between the Federal Government and provincial governments, via a Technical Supplementary Grant of Rs. 23.42 billion as requested by the Ministry of Commerce. The Finance Division will release Rs. 15 billion, and the remainder will be arranged depending on fiscal conditions.
In housing and development, the Committee sanctioned a Technical Supplementary Grant of Rs. 1.9 billion for the Ministry of Housing and Works, aiding capital outlay under the Sustainable Development Goals Achievement Programme. These funds are slated for development schemes in Khyber Pakhtunkhwa via Pakistan Infrastructure Development Company Limited, aimed at expediting infrastructure projects and enhancing service delivery.
The ECC also approved a Technical Supplementary Grant of Rs. 150 million for Cadet College Hasan Abdal under the Ministry of Federal Education and Professional Training to fulfill operational and developmental needs, ensuring the institution runs smoothly.
Lastly, the ECC authorized the distribution of confiscated solar panels by the Federal Board of Revenue to the Government of Gilgit-Baltistan, including a plan for transportation and distribution. This initiative aims to tackle electricity shortages, promote renewable energy solutions, and support public service facilities through sustainable power generation.
