ECC continues ban on wheat and wheat flour export

ISLAMABAD: In the light of a briefing by the Ministry of National Food Security and Research, the Economic Coordination Committee (ECC) decided to continue ban on export of wheat and wheat flour and further decided to propose to provincial governments to undertake a fresh stock-taking of wheat in godowns to ensure adequate supplies were available in the winter months.

It further instructed the Ministry of Finance to call an early meeting of the National Price Monitoring Committee to assess the wheat and flour supply situation in different parts of the country, including the federal capital in view of recent reports of rising prices of some core food items, including flour.

Economic Coordination Committee (ECC) of the Cabinet has approved separate proposals for payment of over Rs 1.5 billion subsidy charges to the executing agencies of the Prime Minister’s Youth Business Loan Scheme as well as transfer of Rs 2 billion funds from the Cabinet Division to the Planning, Development and Reform Division as a technical supplementary grant.

The approvals were granted at a meeting of the of the Economic Coordination Committee (ECC) of the Cabinet which met here at the Cabinet Block with Adviser to the Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh in the chair, PID reported.

The ECC considered a proposal by the Finance Division and approved a technical supplementary grant amounting to Rs 1.516 billion in Cost Centre KA-3012-Prime Minister’s Youth Business Loan Scheme from development expenditure of Finance Division in favour of development expenditure outside the Public Sector Development Programme during the current financial year.

The ECC also approved a proposal by the Planning, Development and Reform Division for surrender of funds amounting to Rs 2 billion from its demand related to SDGs Achievement Programme (SAP) in favour of the Planning, Development and Reform Division for the year 2019-20 as a Technical Supplementary Grant to meet the requirements of important projects without affecting the overall PSDP allocation of the federal government.

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