ECC Approves Sale of 500,000 Metric Tons of Wheat from PASSCO Stocks

**Islamabad:** The Economic Coordination Committee (ECC) has approved the sale of 500,000 metric tons of wheat from the stocks of the Pakistan Agricultural Storage and Services Corporation (PASSCO).

According to a statement issued after the ECC meeting chaired by Finance Minister Muhammad Aurangzeb, the wheat will be sold through a competitive bidding process.

The ECC fixed the new reserve price for locally procured wheat at Rs4,150 per 40 kg (maund), while the reserve price for imported wheat has been set at Rs3,800 per 40 kg.

The committee also decided that wheat will be sold on a first-in, first-out (FIFO) basis. In addition, the meeting approved a technical supplementary grant of Rs536 million for ongoing projects.