Pakistan’s Economic Committee Greenlights Wheat Procurement Plan for 2024

pakistan's economic committee greenlights wheat procurement plan for 2024

In Islamabad, the Economic Coordination Committee (ECC) has given the green light to the wheat procurement plan for the year 2024, according to a report by ARY News.

The meeting, chaired by Finance Minister Muhammad Aurangzeb, saw the approval of the plan proposed by the National Food Security Ministry.

Under this plan, the ECC has set the wheat procurement targets for PASSCO, Sindh, and Balochistan provinces. Additionally, they’ve also approved a cash credit limit to facilitate the wheat purchase.

For the year 2024, the procurement targets are fixed at 2.45 million metric tons (MMT). PASSCO is tasked with procuring 1.40 MMT, Sindh 1.00 MMT, and Balochistan 0.050 MMT. Moreover, allocated cash credit limits amount to Rs169.00 billion for PASSCO, Rs100.00 billion for Sindh, and Rs5.70 billion for Balochistan.

This plan is crucial for ensuring the smooth acquisition of wheat during the designated period, which plays a significant role in maintaining stable food reserves within the country.

Furthermore, the ECC session also approved technical supplementary grants for various ministries.