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The Economic Coordination Committee (ECC) has approved Rs100 billion for Prime Minister Shehbaz Sharif’s austerity fund.
The meeting, chaired by Federal Minister for Finance Muhammad Aurangzeb, sanctioned the amount as part of measures aimed at shielding the public from inflation and reducing the impact of petroleum price increases.
It was decided that the sum would be transferred from development funds, while the finance minister directed that key projects must not be affected.
The committee also considered the Wheat Procurement Policy for 2025-26 and granted approval for wheat procurement through the private sector.
The Ministry of Finance stated that the government had decided to procure up to one million tonnes of wheat. The ECC emphasised maintaining balance among farmers, the market and the wider economy, and called for a cautious strategy regarding national wheat reserves.
The meeting also reviewed decisions in light of the evolving regional situation.
