Pakistan Ecc Approves Sale Of 500,000 Tons Wheat At Reduced Prices

On February 24, 2026, the Economic Coordination Committee (ECC) of Pakistan approved the sale of 500,000 metric tons of wheat held by the Pakistan Agricultural Storage and Services Corporation (PASSCO) at significantly reduced prices. The new reserve prices were set at Rs4,150 per 40kg for local wheat and Rs3,800 per 40kg for imported wheat, which is a drastic reduction from the previous prices of Rs4,400 and Rs6,425, respectively. Finance Minister Muhammad Aurangzeb stated, "In view of the existing stock position and associated carrying costs, the ECC approved the sale... at revised reserve prices," reflecting the government's urgent need to offload surplus wheat stocks amid rising carrying costs. The decision is expected to cost taxpayers approximately Rs24 billion, as the sale prices are well below the original purchase and storage costs, indicating poor economic planning by the government.