September 22, 2020

The Economic Coordination Committee Bans Exports Of Wheat

The Economic Coordination Committee held a meeting on Wednesday, July 17, 2019, which was headed by Finance Minister Abdul Hafeez Sheikh. Several important decisions were made during the meeting and banning of wheat and flour exports were one of the important decisions taken by the ECC.

The committee had concerns regarding the increased prices of Roti in the local market and was also informed that the production of wheat in the 2018-19 period was 24.12 million tonnes and not the expected 25.5 million tonnes. Similarly, the wheat procured during this year was also 30% less as compared to the previous year.

To control the prices of Roti, the committee instructed to set up a meeting with the National Price Monitoring Company (NPMC).

The ECC was informed that the current wheat stocks in the country were 28 million tonnes and the annual requirement is 25.84 million tonnes and hence, there is no shortage of wheat in the market.

The tandoor owners in Peshawar went on a strike after they were forbidden to sell 190 grams Roti for Rs15. They said that the prices set by the government were too low. The tandoor owners said that due to increased prices of power, such as gas and electricity, they were forced to increase the prices of Roti.

The government had been raiding different tandoor shops in the market and was sealing those shops whose prices were not compliant with the prices set by the government.

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