ECC Approves Export Of 0.5 Mln Tons Of Wheat

Finance Minister Asad Umar Tuesday chaired meeting of the Economic Coordination Committee (ECC) of the cabinet and approved the export of 0.5 million tons of wheat by Pakistan Agriculture Storage and Services Corporation (PASSCO) and provincial governments of Punjab and Sindh.

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Nov, 2018 ) :Finance Minister Asad Umar Tuesday chaired meeting of the Economic Coordination Committee (ECC) of the cabinet and approved the export of 0.5 million tons of wheat by Pakistan Agriculture Storage and Services Corporation (PASSCO) and provincial governments of Punjab and Sindh.

The meeting discussed the proposal submitted by the Ministry of National food Security and Research regarding export of surplus wheat and wheat products, a press release issued by the finance ministry said.

The proposal for the export of surplus wheat was submitted by the provincial governments of Punjab and Sindh and PASSCO.

The committee granted approval for export of 0.5 million tons of wheat by PASSCO and both provincial governments and a committee was formed to review the situation.

It was decided that any financial support for freight requested for the purpose will be provided by the respective provincial governments. Federal government will pick up such costs in the case of PASSCO only.

Further, a committee comprising senior officials from the ministries of Commerce, Finance and Food Security would review the situation in two week's time and make recommendation for further exports, if required.