ECC to mull G-B wheat rates revision today

Committee’s meeting to take up 13-point agenda

ISLAMABAD:

 

The Economic Coordination Committee (ECC) of the Cabinet will hold a meeting on Thursday (today) to review the revision of the rates of subsidised wheat to Gilgit-Baltistan among other matters.

The participants of the ECC meeting, chaired by interim Finance Minister Dr Shamshad Akhtar, will discuss a 13-point agenda.

The G-B government recently withdrew its decision to increase the price of subsidised wheat in the region after its residents staged protests and rallies for over a month. However, the Awami Action Committee (AAC) of the region rejected the G-B government’s decision and announced continuing the protest campaign until all its 15 demands were met.

Its other demands include the withdrawal of various taxes, suspension of the Finance Act 2022, ensuring G-B’s share in the National Finance Commission (NFC) award, provision of land ownership rights to the locals, and cancellation of all leases granted to outsiders for exploration of minerals in the region.

The AAC has also demanded 80% royalty of Diamer-Bhasha Dam under net hydel profit should be given to the people of G-B, ensuring electricity supply to its residents as well as an end to the 22-hour power outage in the region.

According to the agenda, the ECC will also review the demand and supply situation of wheat in the country in detail.

The meeting is also expected to approve the technical supplementary grant of Rs500 million for the Civil Aviation Authority. The grant will be spent on the modernisation of Pakistan Meteorological Department’s (PMD) hydro-met services.

Read: G-B gov dashes to Islamabad on wheat subsidy

The summary of the technical supplementary grant of around Rs38.8 million for the International Reforms Cell of the Cabinet Division will be considered as well.

The ECC will further consider the summary of the permission to import the cattle of Sahiwal breed for the National Immunisation Programme.

The meeting is likely to approve the summary of a technical supplementary grant from a Japanese endowment for the construction of the flood-affected roads in the rural areas of Khyber-Pakhtunkhwa and the project of providing clean drinking water to the three union councils of Lahore.

The ECC will also consider the summary of providing additional funds of more than Rs1.59 billion to the finance ministry for consultancy services and recruitment of consultants for the current financial year.

The summary of the technical supplementary grant of Rs7.5 billion for federal education and professional training will also be discussed.

The participants of the meeting will further consider two summaries of technical supplementary grants of more than Rs560 million for the housing and works ministry.

A technical supplementary grant of Rs4 billion will also be approved for the 7th Population and Housing Census.

The ECC will consider the summary in connection with giving cover to the local currency related to the difference in the value of the dollar and rupee for the use of budgetary foreign aid during the current financial year.

The summary related to the London Interbank Offered Rate (LIBOR) and Secured Overnight Financing Rate (SOFR) transaction will be discussed in the meeting as well.