The ECC approved increasing PASSCO’s wheat procurement target from 1.40 to 1.80 MMT, along with the necessary Cash Credit Limit for the additional purchase.
Chaired by Finance Minister Muhammad Aurangzeb, the meeting also greenlit several proposals from different government ministries and divisions. The ECC’s nod to raise PASSCO’s wheat procurement target will bolster its current procurement efforts.
The ECC also approved the import of 200,000 MTs of Urea fertilizer for Kharif 2024 and directed continuous assessment of urea demand and supply. Additionally, it authorized the disbursement of PSM workers’ salaries and requested a detailed plan for future asset use. Budgeted expenditures were released to clear tariff differential subsidy arrears for KE and AJK, alleviating the Power Sector’s liquidity requirements.
The ECC considered proposals for Technical Supplementary Grants, including allocations for the Pakistan Atomic Energy Commission, Earthquake Reconstruction & Rehabilitation Authority, Financial Inclusion and Infrastructure Project, repair and maintenance of public buildings in Islamabad, and the FATA TDP-ERP Project.
Ministers for Commerce, Petroleum, Privatization, and Industries & Production, along with the SECP Chairman, Deputy Chairman Planning Commission, Federal Secretaries, and other officials attended the meeting, while the Minister for Economic Affairs and MD PASSCO participated online.
