Pakistan okays sale of wheat, approves PKR 55B for development funds

Pakistan’s top economic decision-making body has approved the sale and allocation of large quantities of wheat and cleared billions of rupees in funding for health, utilities, housing, and education, as part of broader measures to manage surplus stocks, stabilize prices, and support key public services.

In its meeting on Wednesday, the Economic Coordination Committee authorized the sale of 500,000 metric tons of wheat held by the Pakistan Agricultural Storage and Services Corporation (PASSCO) through competitive bidding.

It also approved the allocation of 300,000 metric tons of PASSCO wheat to the Punjab government to help ensure adequate supplies for flour mills, stabilize market prices, and maintain the uninterrupted availability of wheat flour for consumers.

The meeting, chaired by Finance Minister Muhammad Aurangzeb, reviewed a range of economic, fiscal, and sectoral issues aimed at maintaining macroeconomic stability, protecting consumers, and addressing the operational needs of public sector entities, said an official statement.

In another decision, the ECC approved the release of PKR 10.98 billion as a technical supplementary grant to clear long-standing liabilities of utility companies owed by the Pakistan Post Office Department. The payables had accumulated over several years.

In the health sector, the committee approved a technical supplementary grant of PKR 29.66 billion for the Federal Directorate of Immunization under the Ministry of National Health Services.

The funding is intended to ensure uninterrupted procurement of vaccines and syringes under the Expanded Program on Immunization, sustain routine immunization coverage, and help prevent outbreaks of vaccine-preventable diseases.

The ECC also approved a PKR 23.42 billion subsidy to be shared equally by the federal and provincial governments to offset the cost of imported urea fertilizer. Of the total amount, PKR 15 billion will be released by the Finance Division, with the remaining funds to be arranged subject to available fiscal space.

In the housing and development sector, the committee cleared a PKR 1.9 billion technical supplementary grant for the Ministry of Housing and Works to support projects under the Sustainable Development Goals Achievement Program.

The funds will be used for development schemes in Khyber Pakhtunkhwa through the Pakistan Infrastructure Development Company Limited.

The ECC also approved PKR 150 million for Cadet College Hasan Abdal to meet its operational and development needs.

In addition, the committee authorized the distribution of confiscated solar panels by the Federal Board of Revenue to the government of Gilgit-Baltistan, along with a transportation and distribution plan. Officials said the initiative is aimed at easing electricity shortages in the region and promoting renewable energy solutions for public service facilities.