Wheat procurement targets, prices fixed for Sindh, Punjab and Balochistan
The Economic Coordination Committee of the federal cabinet on Friday gave its approval for a 20% hike in prices of essential drugs for a second time in less than three months, making them out of the reach of the poor people amid soaring inflation.
The decision was made during the ECC meeting held with Federal Minister for Finance and Revenue Senator Ishaq Dar, according to a statement issued by the Finance Division.
The ECC, on February 10, approved an increase in the prices of 20 medicines, including paracetamol.
“To ensure continuous availability of drugs in the market, the ECC allowed as a one-time dispensation, allowed manufacturers and importers to increase their existing MRPs of essential drugs equal to 70% increase in CPI (with a cap of 14%) and MRPs of all other drugs and lower priced drugs an increase up to 70% in CPI (with a cap of 20%) on the basis of average CPI for current year i-e 1st July, 2022 to 1st April 2023 with condition that it should be considered as an annual increase for the financial year 2023-24 and no increase under this category will be granted in next financial year,” read the statement.
The Ministry of National Health Services, Regulations and Coordination presented a summary on increase in maximum retail prices of drugs based on the recommendations of the Policy Board of DRAP in the wake of the devaluation of the rupee and inflation.
The ECC further advised the Policy Board to review the situation in July 2023 and make its recommendations to the federal govt regarding price decrease if the rupee appreciates its value.
Meanwhile, the ECC considered and approved a summary of Ministry of National Food Security and Research regarding the fixation of wheat procurement targets for the provinces of Sindh, Punjab, and Balochistan for wheat crop 2022-23 along with cash credit limit.
Govt of Sindh was assigned a procurement target of 1.400 MMT with a procurement price of Rs 4000/40 Kg.
The Govt of Punjab was assigned procurement target of 3.500 MMT with procurement price Rs 3900/40 Kg and Govt of Balochistan assigned a procurement target of 0.100 MMT with a procurement price of Rs. 3900/40 Kg.
The ECC also considered and approved Rs. 35 million additional funds as a technical supplementary grant in favour of the Ministry of Interior for the establishment of Passport Processing Centers at the Tehsil level in 30 administrative units throughout the country and creation of 30 posts of MRP operational officers in Department of Immigration and Passports, subject to the approval of the Austerity Committee.
