ECC raises Wheat price, allows import of urea
By Uzma Zafar

ISLAMABAD—The Economic Coordination Committee of the Cabinet (ECC) Friday enhanced the support price of wheat from Rs.400 per forty kgs to Rs. 415 in order to encourage farmers to grow more in the country.
The ECC meeting was held under the chairmanship of Prime Minister Shaukat Aziz here at the Prime Minister Secretariat today.
“On the recommendations of the Ministry of Food Agriculture and Livestock (MINFAL), the ECC has decided to enhance the support price to encourage our farmers to grow more wheat in the country”, Dr. Ashfaque Hassan Khan Advisor on Finance Ministry told the media-persons while briefing the decisions of the ECC.
Dr.Khan said that the ECC also approved Rs.50 million for the “grow more wheat campaign” of the MINFAL to achieve the objective of more wheat production.
This decision of the ECC would encourage the farmers to grow more wheat and this would help more supply of the commodity in the market and stabilize its prices.
The Advisor on Finance Ministry said that government has now released its wheat stocks to flour mills on issue price of Rs.425 per forty kgs while earlier its price was Rs.400 per forty kgs.
Private sector is already providing the wheat to the mills, he remarked.
Dr. Khan said that ECC has also decide to allow import of 0.2 million tonnes of Urea ( fertilizer). Earlier only the Trading Corporation of Pakistan (TCP) was importing it, but now the ECC has also decided to constitute a committee under the Chairmanship of Deputy Chairman Planning Commission, Dr. Muhammad Akram Sheikh with its members included Chairman Central Board of Revenue (CBR), the representatives from the Ministry of Agriculture, and Finance.
The Committee, he said would devise a mechanism for involving the import of Urea by the private sector as well.
Dr. Khan said that ECC also reviewed the prices of essential foods items and observed the Sensitive Price Indicator (SPI) in the on October 13 which has shown a decline of 0.66 percent as compared to the same period of last year.
He said that ECC also observed that prices of ten items have registers increased while the prices of fifteen items including tomatoes, onions, chicken, beef and potatoes have decreased while the prices of twenty eight items remained unchanged.
He added that the ECC also noted that on October 6, the prices of tomato per kg was Rs.26.57 which has now come down to Rs.13.90 per kg.
Similarly, he said that the ECC also observed that on October 6, the prices of onions per kg was Rs.15.57 which is now available on Rs.13.28 per kg.
The ECC was informed that only the funds in “President Relief Fund for earthquake 2005” are exempted from the tax.
The ECC also condoled the demise of the mother of Minister for Petroleum and Natural Resources Naouraiz Shakoor and prayed for the eternal peace of the departed soul.