The Econ-omic Coordination Committee (ECC) of the Cabinet has decided to continue ban on export of wheat and wheat flour following growing criticism from all quarters on increase in the prices of staple food items. A meeting of the ECC chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh discussed the wheat situation in the country and also decided that provinces would be asked to undertake a fresh stocktaking of wheat in godowns to ensure that adequate supplies are available in the winter season.

An official on condition of anonymity stated that some members, particularly the minister for railways, emphasized that the government must provide relief to the people against price hike. The adviser on finance agreed with him and stated that he also received information about increase in prices of some commodities, the official added.

Sources said that the meeting was told that the government recently provided a subsidy of Rs 1.5 billion on gas supply to non-commercial tandoors to bring down the price of roti to previous level but the ECC noted with grave concern that there is no decrease in price of roti at clay ovens. He said if the government is unable to get implemented its decision in the federal capital, how it can enforce its decision in other parts of the country.

The meeting further instructed the Ministry of Finance to call an early meeting of the National Price Monitoring Committee to assess wheat and flour supply situation in different parts of the country, including the federal capital, in view of recent reports of rising prices of some core food items, including flour.

The Economic Coordination Committee (ECC) of the Cabinet approved separate proposals for payment of over Rs 1.5 billion subsidy charges to the executing agencies of the Prime Minister's Youth Business Loan Scheme as well as transfer of Rs 2 billion funds from the Cabinet Division to the Planning, Development and Reform Division as a technical supplementary grant.

The ECC considered a proposal by the Finance Division and approved a technical supplementary grant amounting to Rs 1.516 billion in Cost Centre KA-3012, Prime Minister's Youth Business Loan Scheme, from development expenditure of Finance Division in favor of development expenditure outside the Public Sector Development Program during the current financial year.

The ECC also approved a proposal by the Planning, Development and Reform Division for surrender of funds amounting to Rs 2 billion from its demand related to SDGs Achievement Program (SAP) in favor of the Planning, Development and Reform Division for the year 2019-20 as a technical supplementary grant to meet the requirements of important projects without affecting the overall PSDP allocation of the federal government.

Copyright Business Recorder, 2019