- Web Desk
- 26 Minutes ago
ECC directs formulation of wheat subsidy modalities for G-B
- Web Desk
- Feb 01, 2024
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed the departments concerned to work out modalities regarding the provision of subsidized wheat to Gilgit-Baltistan.
The decision was made at a meeting of the ECC, chaired by Caretaker Finance Minister Dr Shamshad Akhtar, on Thursday.
A summary from the Ministry of Kashmir Affairs and Gilgit-Baltistan regarding a comprehensive sustainable plan for the price rationalization of subsidized wheat for Gilgit-Baltistan was discussed in the presence of G-B’s Chief Minister Haji Gulbar Khan. The forum directed the Ministry of Finance and the Ministry of Kashmir Affairs and Gilgit-Baltistan to work out modalities in this regard.
It should be noted that protests have erupted across G-B after the regional government withdrew the subsidized wheat for the residents. The main protest, under the banner of the Awami Action Committee, has camped in Gilgit city where a large number of people from all 10 districts have converged to protest against the withdrawal of the food subsidy.
The ECC approved a technical supplementary grant of Rs500 million to the Ministry of Aviation for the sub-project titled ‘Modernization Of Hydromet Services of PMD in Pakistan (MHSP)’. The ECC also approved a technical supplementary grant of Rs38.856 million for Institutional Reforms Cell (IRC) from the Cabinet Division. It also approved a summary for the importation of Sahiwal Bull from Pakistan as semen donors for the National Artificial Insemination (AI) Programme from the Ministry of Commerce, after discussion.
The summaries from the Ministry of Finance for the approval of technical supplementary grants for the rehabilitation of flood-damaged rural roads in Khyber Pakhtunkhwa through counter-value fund deposited under Japanese grant aid, and the provision of clean drinking water in model areas UC 99, 100 & 101 Lahore through counter-value fund deposited under Japanese grant aid, were also approved.
The ECC approved additional funds amounting to Rs1591.624 million through technical supplementary grant for the procurement of servers and hiring consultants for the financial year 2023-24. The ECC gave approval for the technical supplementary grant amounting to Rs7.15 billion for the financial year 2023-24 for the program titled “Actions to Strengthen Performance for Inclusive and Responsive Education” for Federal Education and Professional Training.
The summaries from the Ministry of Housing and Works/ Pak-PWD for the provision of technical supplementary grant of Rs25.00 million, the provision of technical supplementary grant of Rs319.500 million, and the allocation of technical supplementary grant amounting to Rs51.960 million for different projects were also approved.
The summary presented by the National Food Security & Research regarding the demand and supply of wheat in the country was discussed at length and got approved. The forum appreciated the steps taken by the ministry for taking the right path in stabilizing the demand and supply situation of wheat in the country.
The ECC also gave approval for the summaries from the Ministry of Planning Development and Special Initiatives for technical supplementary grants for budgetary allocation/rupee cover for the utilization of foreign aid for the financial year 2023-24 and a summary for the provision of technical supplementary grant of Rs4.00 billion for the 7th population and housing census.
The ECC also discussed a summary from the Ministry of Power regarding the transition from London InterBank Offer Rate (‘Libor’) to Secured Overnight Financing Rate (‘SOFR’) and approved it.