ECC approves 200,00 Mt wheat to USC from PASSCO

F.P. Report

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet Monday approved additional 200,000 metric tons of wheat for Utility Stores Corporation (USC) from Pakistan Agricultural Storage and Services Corporation (PASSCO) reserves.

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the ECC meeting.

According to the ECC decision, the wheat would be released in tranches and the first tranche, consisting of 50,000 metric tons, would be released immediately while the rest would be released on demand by USC.

The total cost of this package is Rs.8.690 billion including incidental charges of 1.690 billion, according to statement issued by the Finance Ministry here.

The adviser directed that the record of the USC and PASSCO should be completely computerized to ensure transparency and facilitate decision making.

There was also a discussion in ECC on data collection from private flour mills in order to ascertain the correct situation of demand and supply of wheat/atta in the country and to ensure accuracy in decision making.

The adviser also asked the Poverty Alleviation Division to ensure transparency and efficiency in disbursement of funds to the vulnerable in wake of COVID-19 situation in the country.

Secretary Poverty Alleviation Social Safety Division assured the ECC that no one would be allowed to swindle the poor people of the country.

He informed that the multiple arrests had already been made and exemplary punishment would be given to those who cheat the poor.

The ECC was briefed that so far 1.7 million families have been paid under the Ehsaas programme whereas the payments to remaining families were underway.