Finance Division debunks alleged delay in wheat procurement decision

WEB DESK: The Finance Division has refuted claims circulating in the media regarding the purported delay in decision-making by the Economic Coordination Committee (ECC) concerning wheat procurement targets.

In a statement issued on Saturday, the Finance Division clarified that the ECC is committed to ensuring comprehensive stakeholder consultation before finalizing any decisions.

Contrary to misleading reports, the Finance Division stated that the ECC extensively discussed matters related to wheat procurement during its meeting on April 4, 2024.

Following deliberations with relevant federal ministries, it was deemed necessary to involve provincial governments in the decision-making process, given their pivotal role in implementing these decisions at the grassroots level.

Consequently, the ECC reconvened on April 5, with the participation of representatives of all provincial governments. During this session, provincial representatives provided updates on the current status of wheat procurement in their respective regions and outlined their requirements for bank credit.

After thorough discussions, the ECC approved the procurement targets proposed by the Ministry of Food Security and the provinces, along with the corresponding cash credit limits needed for implementation.

Notably, there were no suggestions for alterations to the targets, nor were any such changes approved by the ECC.

The government of Punjab assured the committee of its proactive measures to monitor the wheat situation within the province and initiate procurement processes accordingly.

It also underscored its commitment to facilitating farmers in selling their produce at the support price level.

The Finance Division underscored the ECC’s commitment to meticulous deliberation on all matters brought before it, highlighting the importance of informed decision-making with the involvement of all stakeholders.

This approach ensures that decisions with significant implications are made collectively and transparently.