ISLAMABAD: A day after Prime Minister Imran Khan showed displeasure over the rising flour and bread prices, the Economic Coordination Committee (ECC) of the Cabinet on Wednesday ordered release of 350,000 tonnes of wheat in the market to check price hike.

The ECC meeting, presided over by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, approved a proposal of the Ministry of National Food Security and Research to release of 150,000 tonnes of wheat from the stocks of Pakistan Agricultural Storage and Services Corporation to the provincial government of Khyber Pakhtunkhwa.

The meeting also directed the Sindh government to release 100,000 tonnes of wheat subject to the condition that it would also release another 100,000 tonnes out of its own stocks in to the market.

The wheat flour and bread prices had reportedly increased by more than 10 per cent in the last couple of weeks and some parliamentarians have been raising the issue at various forums including the parliament and its committees and during the interactions with prime minister.

The ECC had been discussing the rise in flour and bread prices for almost three months. In the last ECC meeting held on Sept 18, the members had spent almost an hour on the issue and blamed rodents, exports by unscrupulous traders, provincial governments, failure of national price monitoring

committee for the crisis as the ministry reported that wheat stocks were about 30pc lower than last year.

While presiding over the cabinet meeting on Tuesday, PM Imran Khan had expressed displeasure over the flour and bread prices and directed the provincial governments to ensure stability of roti prices (bread) and wheat flour in the provinces.

He also directed the Ministry of National Food Security and all provincial governments to ensure that prices of roti and wheat flour did not increase at any level.

The meeting also approved a set of proposals, presented by the Ministry of Energy, to resolve issues pertaining to 1,124 MW Kohala Hydropower Project including minimum ecological water flow of 42 cusecs by maintaining the e-flow of 30 cusecs and releasing additional flow of 12 cusecs from the spillway. The meeting also approved construction of sewage treatment plants and water bodies, the cost of which will be included in the National Electronic and Power Regulatory Authority (Nepra) tariff to be passed on to consumers.

The ECC also discussed the issue regarding the Cabinet Committee on Energy’s “Approval of the Settlement of Liquidated Damages” payable to independent power producers as referred to it by the cabinet because of media controversies.

The ECC constituted a committee comprising Economic Affairs Minister Hammad Azhar, Adviser to the PM on Institutional Reforms and Austerity Dr Ishrat Hussain and Special Secretary Finance Omar Hamid Khan to examine the matter and submit firmed up recommendations to the ECC.

The ECC also approved a proposal of the Ministry of Energy to allow Central Power Purchasing Agency to approach Nepra for approval of extension of tariff as agreed between Pakistan and Iran on Mar 15 for supply of power to Makran Division from Iran’s Power Generation and Transmission Management Company TAVANIR.

The ECC also approved a technical supplementary grant of Rs419.154 million to be paid to court and foreign counsels in case of Dr. Hilal Hussain Al-Tuwairiqi and Al-Ittifaq Steel Products Company Limited vs Islamic Republic of Pakistan.

Published in Dawn, October 3rd, 2019