The Economic Coordination Committee (ECC) convened on Tuesday and sanctioned several significant measures. These included increasing the wheat purchase target of the Pakistan Agricultural Storage and Services Corporation (PASCO) from 1.4 million tonnes to 1.8 million tonnes. To ensure an adequate supply of urea fertilizer for the upcoming Kharif season of 2024, the ECC formulated a strategy and took decisive actions.
In addition, the ECC approved an advance subsidy of Rs70 billion for K-Electric and Rs55 billion for Azad Jammu and Kashmir (AJK). Senator Muhammad Aurangzeb, the Finance Minister, chaired the ECC meeting, during which a technical grant of Rs200 million was sanctioned for defense production.
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The ECC also authorized funds for the salaries of Pakistan Steel Mills employees from January 2024 to June 2024. Furthermore, supplementary grants were approved, including Rs5.89 billion for the Engineering Development Board (ERA) and Rs4.86 billion for the Atomic Energy Commission.
Additionally, a technical supplementary grant of Rs2.5 billion was sanctioned for the Ministry of Energy, likely intended to support infrastructure projects and initiatives aimed at enhancing energy production and distribution.
