ECC rejects increase in wheat support price | Pakistan Today

ECC rejects increase in wheat support price

ISLAMABAD: The Economic Coordination Committee of the cabinet (ECC) on Friday rejected a proposal by the Ministry of Food and Agriculture and Livestock (MINFAL) seeking an increase of Rs 50 in next year’s wheat support price, retaining it at Rs 950 per 40 kilogrammes.
The meeting was convened on a demand by MINFAL and was chaired by Finance Minister Dr Abdul Hafeez Shaikh. The meeting also rejected MINFAL’s demand of seeking enhancement of Rabi relief package to Rs 6,100 per acre, and retained it at the earlier benchmark of Rs 2,400 per acre.
Talking to reporters after the meeting, Agriculture Minister Nazar Gondal said despite the loss to agriculture land, the government would make efforts to increase the wheat acreage to meet domestic requirement. He said the meeting did not fix any wheat procurement target, as it would be decided after the sowing of wheat crop.
Gondal said farmers would be provide a grant of Rs 2,400 per acre up to a maximum limit of 12.5 acres, and for cultivating more acres, they would be provide credit on eight percent interest. The rest of the mark up would be paid by the government, he said, adding that the grant would be provided through credit cards.

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