ECC Approves Disposal of 500,000 Tons of PASSCO Wheat to Stabilize Market
The Economic Coordination Committee (ECC) on Tuesday approved the disposal of 500,000 metric tons of Pakistan Agricultural Storage and Services Corporation (PASSCO) wheat through competitive bidding, as part of measures to manage surplus stocks, reduce storage and carrying costs, and ensure price stability in the domestic wheat market.
The meeting, held in Islamabad, was chaired by Finance Minister Muhammad Aurangzeb.
In another key decision, the ECC approved the release of 300,000 metric tons of PASSCO wheat to the Food and Consumer Protection Department of the Government of Punjab. The move aims to maintain adequate supplies for flour mills, stabilize market prices, and ensure uninterrupted availability of wheat flour for consumers.
The committee also sanctioned funds to clear long-pending liabilities of utility companies against the Pakistan Post Office Department (PPOD). A Technical Supplementary Grant (TSG) of Rs10.98 billion was approved to settle outstanding payables accumulated over several years.
In the health sector, the ECC approved a TSG of Rs29.663 billion for the Federal Directorate of Immunization to ensure uninterrupted procurement of vaccines and syringes under the Expanded Programme on Immunization (EPI). The funding is intended to sustain routine immunization coverage nationwide, prevent outbreaks of vaccine-preventable diseases, and fulfill Pakistan’s international public health commitments.
The committee further approved the sharing of subsidy on imported urea on a 50:50 basis between the federal and provincial governments through a TSG of Rs23.42 billion. Of this, Rs15 billion will be released by the Finance Division, while the remaining amount will be arranged subject to available fiscal space.
In the housing and development sector, the ECC sanctioned a TSG of Rs1.9 billion in favor of the Ministry of Housing and Works to meet capital outlay requirements under the Sustainable Development Goals Achievement Programme for development schemes in Khyber Pakhtunkhwa, to be executed through the Pakistan Infrastructure Development Company Limited.
Additionally, a TSG of Rs150 million was approved for Cadet College Hasan Abdal to meet its operational and developmental needs and ensure the smooth functioning of the institution.
The ECC also approved the distribution of confiscated solar panels by the Federal Board of Revenue to the Government of Gilgit-Baltistan, along with the associated transportation and distribution plan. The initiative aims to help address electricity shortages in the region, promote renewable energy solutions, and support public service facilities through sustainable power generation.
