The Economic Coordination Committee (ECC) of the cabinet will meet today (Monday) to consider a one-point agenda for setting a minimum support price for the new wheat crop during the fiscal year 2022-23.
The committee, which will meet with Finance Minister Ishaq Dar in the chair, will consider the summary of the Ministry of National Food Security and Research for setting a profitable support price for the top agricultural commodity, according to an official document seen by ProPakistani.
The top economic committee will consider fixing the support price of wheat at Rs. 3,000-3,200 per maund (~40 kg) in a bid to aid the farming community, which has already suffered substantial damage at the hands of the devastating monsoon floods. In FY22, the support price of wheat was fixed at Rs. 2,200. Compared to last year, the price is likely to increase by at least Rs. 1,000 per maund.
It is pertinent to mention that the sowing season for wheat begins on October 10 (today) and it is standard protocol to set a uniform minimum support price before that.
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