Pakistan Ecc Approves Wheat Sale Amid Economic Challenges

On February 24, 2026, the Economic Coordination Committee (ECC) of Pakistan's Cabinet approved the sale of 500,000 metric tonnes of wheat held by the Pakistan Agricultural Storage and Services Corporation (PASSCO) through competitive bidding at revised reserve prices. However, the sale has encountered significant challenges as bidders submitted offers that were 34% lower than the minimum price set by the government. In response, the ECC has further reduced the sale price to PKR 3,800 per 40 kg for imported wheat and PKR 4,150 per 40 kg for local wheat, which is 12.5% less than its carrying cost. This decision is expected to cost taxpayers approximately PKR 24 billion, highlighting the government's ongoing struggles with economic and commercial planning. Finance Minister Muhammad Aurangzeb chaired the ECC meeting, which noted that previous attempts to sell the wheat at higher prices failed due to low bids, with the maximum bid for imported wheat reaching only PKR 2,695 per 40 kg, significantly below its actual cost of PKR 6,425 per 40 kg.