- ECC reallocates PSDP funds to cushion gasoline worth volatility impression.
- Critiques wheat procurement underneath Interim Nationwide Wheat Coverage.
- Stresses versatile wheat procurement, balancing market stability.
The Financial Coordination Committee (ECC) of the Cupboard on Thursday permitted a Technical Supplementary Grant (TSG) of Rs100 billion for the Prime Minister’s Austerity Fund 2026 and reviewed wheat procurement technique underneath the Interim Nationwide Wheat Coverage (INWP) 2025-26.
The assembly was held underneath the chairmanship of Federal Minister for Finance and Income Senator Muhammad Aurangzeb, mentioned a information launch.
The ECC thought of and permitted a abstract submitted by the Finance Division searching for a technical supplementary grant of Rs100 billion for onward switch to the PM’s Austerity Fund 2026.
The committee was knowledgeable that, in mild of evolving developments within the Gulf area and their potential impression on worldwide petroleum costs, the prime minister had directed the mobilisation of Public Sector Growth Programme (PSDP) assets to fulfill worth differential necessities on petroleum merchandise and to cushion customers from worth volatility.
Through the dialogue, the ECC famous that the proposed allocation is being met by way of rationalisation and give up of PSDP funds by numerous ministries and divisions, as coordinated by the Planning, Growth and Particular Initiatives Division in session with principal accounting officers.
It was emphasised that the reallocation train has been undertaken to minimise disruption to precedence and well-performing tasks whereas creating the required fiscal house.
The committee additionally took word that preliminary surrenders have already been acquired and the remaining changes are being finalised to fulfill the general requirement.
The ECC additionally thought of a abstract submitted by the Ministry of Nationwide Meals Safety and Analysis relating to the procurement of wheat for federal strategic reserves underneath the INWP 2025-26 by way of personal sector participation.
The committee was apprised of the present provide and demand outlook, together with manufacturing estimates, evolving climate situations, and present private and non-private inventory positions.
It was famous that whereas projections recommend improved crop situations, uncertainties stay, warranting a cautious and calibrated strategy to sustaining ample reserves.
Throughout deliberations, the ECC mentioned the necessity to stability market stability, farmer help, and financial issues, whereas avoiding untimely interventions that might distort market alerts or create uncertainty.
The committee additionally highlighted the significance of distinguishing between strategic and industrial reserves, making certain that procurement selections are aligned with precise necessities and don’t impose pointless fiscal or storage burdens.
After an in depth dialogue, the ECC permitted the procurement of as much as a million metric tons of wheat by way of a clear and aggressive course of to be executed by the personal sector, whereas directing that key parts, together with monetary implications, pricing benchmarks, and operational modalities, be additional refined in session with the Finance Division earlier than finalisation.
The committee emphasised that procurement ranges and monetary commitments ought to stay versatile and conscious of up to date crop assessments and market situations.
The assembly was attended by Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Funding Qaiser Ahmed Sheikh, and Federal Minister for Nationwide Meals Safety and Analysis Rana Tanveer Hussain, all of whom participated just about, together with federal secretaries and senior officers from the related ministries, divisions and regulatory authorities.
