ISLAMABAD-The Economic Coordination Committee (ECC) of the cabinet is meeting today (Monday) to finalise the minimum support price (MSP) of wheat for 2020-21. The ECC will consider two point agenda including minimum support price (MSP) of Wheat Crop 2020-21 and Procedure for registration under concessionary regime of electricity, RLNG and gas under export Oriented Sectors (Erstwhile Zero rated Sectors), official documents available with The Nation reveal.
A summary for the minimum support price of Wheat which was deferred by the ECC last week is again coming for approval. Ministry of National Food Security and Research (MoNFSR) had recommended for increasing support price of wheat from the previous Rs1,400 to Rs1,745 per 40 kg for the upcoming crop. However, the Economic Coordination Committee (ECC) of the cabinet was inconclusive to make decision on a proposed increase in minimum support price (MSP). Now again the summary is being moved to ECC for approval. It is pertinent to mention here that a parliamentary committee had last month directed the Ministry of Food Security and Research to announced MSP before the end of October.
Punjab has recommended the federal government to fix the Minimum Support Price of Wheat at Rs1650 per 40 Kg. The provinces of Khyber Pakhtunkhwa and Balochistan had recommended the federal government to increase minimum support price (MSP) of wheat to Rs1800 and Rs1700 per 40 kg respectively for the upcoming season. Sindh has not given any recommendation regarding MSP of wheat.
For the previous year, the government had fixed the minimum support price (MSP) of wheat at Rs1400 per 40kg. However, farmers across the country had shown their reservations on the minimum support price (MSP) of wheat at Rs 1400 per 40kg, saying that it is too low keeping in view input cost and inflation. The farmers were demanding to increase the support price to Rs 1600 per 40kg. It is worth mentioning here that, for the previous wheat crop, the incumbent government had changed the minimum support price thrice. In November 2019, the Economic Coordination Committee had fixed the wheat support price at Rs1350 per 40 kg, which was later upward revised to Rs1365 per 40 kg in the same month. In March 2020, the Economic Coordination Committee (ECC) of the Cabinet had once again increased the minimum support price of wheat by Rs35 to Rs 1,400 per 40 kg to ensure parity in wheat prices throughout the country.