Islamabad: The Economic Coordination Committee (ECC) has approved the disposal of five hundred thousand metric tons of PASSCO wheat stock through competitive bidding. The decision aims to manage surplus stocks, reduce carrying and storage costs, and ensure price stability in the domestic wheat market. The meeting, chaired by Finance Minister Muhammad Aurangzeb, focused on several critical economic matters.
According to Radio Pakistan, the ECC has also sanctioned the provision of three hundred thousand metric tons of PASSCO wheat to the Food and Consumer Protection Department of the Government of Punjab. This step is intended to maintain adequate wheat supplies for flour mills, stabilize prices, and ensure the uninterrupted availability of wheat flour to consumers.
The committee addressed financial concerns by approving funds to clear outstanding liabilities of utility companies against the Pakistan Post Office Department (PPOD). It authorized the release of 10.98 billion rupees as a Technical Supplementary Grant to settle long-pending payables that have accumulated over several years.
In the health sector, a significant Technical Supplementary Grant amounting to 29.663 billion rupees was approved for the Federal Directorate of Immunization. This approval aims to ensure the procurement of vaccines and syringes under the Expanded Programme on Immunization, thereby sustaining routine immunization coverage and preventing outbreaks of vaccine-preventable diseases.
The ECC further agreed on a cost-sharing arrangement for imported urea subsidies, with a 50:50 split between the Federal Government and provincial governments. A Technical Supplementary Grant of 23.42 billion rupees was approved, with 15 billion rupees to be released by the Finance Division and the remainder subject to fiscal space.
In housing and development, the committee approved a Technical Supplementary Grant of 1.9 billion rupees for the Ministry of Housing and Works. This grant supports capital outlay under the Sustainable Development Goals Achievement Programme for development schemes in Khyber Pakhtunkhwa.
Additionally, the ECC approved a grant of 150 million rupees for Cadet College Hasan Abdal to meet operational and developmental needs, ensuring the institution's smooth functioning.
To address electricity shortages and promote renewable energy in Gilgit-Baltistan, the ECC approved the distribution of confiscated solar panels by the Federal Board of Revenue to the region. This includes an associated transportation and distribution plan to support public service facilities through sustainable power generation.