Economic Coordination Committee of the Cabinet has fixed minimum support price for wheat at 1,400 rupees per forty kilograms.
The Committee, which met in Islamabad today (Thursday) with Finance Advisor Dr. Abdul Hafeez Shaikh in the chair, took this decision to ensure parity in wheat prices throughout the country.
The ECC also set up a Wheat Procurement Monitoring Group to ensure smooth procurement of wheat by public sector departments in the upcoming harvest season.
The meeting also discussed the falling prices of oil in the international market and its impact on the national economy.
It was announced that the benefit of the reduced oil prices in the global market would be passed on the consumers in the country in due course of time as per mechanism already being followed by the government.
Source: Radio Pakistan