ECC emphasizes thorough deliberation with stakeholders before decision-making
In a bid to quash misconceptions, the Finance Division refutes claims of a delay in wheat procurement target decisions by the Economic Coordination Committee (ECC). Asserting the need for comprehensive stakeholder involvement, the ECC prioritizes informed decision-making processes.
Dispelling media reports, the Finance Division clarifies that the ECC’s discussion on wheat procurement occurred on April 4, 2024, underscoring the importance of including provincial governments in deliberations. Following this, representatives from all provinces convened on April 5 to provide insights into the wheat procurement landscape and credit requirements.
According to the Finance Division, after meticulous consideration, the ECC approved the proposed procurement targets and cash credit limits without alterations. Notably, the Punjab government assured active monitoring of wheat procurement processes to facilitate farmers in selling their produce at support price levels.
Furthermore, the ECC’s inaugural meeting highlighted a commitment to thorough deliberations and stakeholder consensus, ensuring decisions with significant ramifications are well-informed and inclusive.
Amidst these developments, on Friday, the ECC sanctioned a substantial Rs274 billion Cash Credit Limit (CCL) to facilitate wheat procurement efforts by provinces and the Pakistan Agricultural Storage and Services Corporation Limited (PASSCO).
