The Economic Coordination Committee of the Cabinet has approved immediate release of 25,000 metric tonnes of wheat for Gilgit Baltistan for the current and next months to avoid shortage of the commodity during Ramzan.

The approval was granted at a meeting of the Committee chaired by Minister for Finance and Revenue Ishaq Dar in Islamabad on Tuesday.           

Keeping in view current wheat price, the ECC granted additional amount of 2.9 billion rupees to meet urgent requirement of Gilgit- Baltistan and also directed Ministry of Kashmir Affairs and Gilgit Baltistan to submit a comprehensive plan for price rationalization within 30 days.

The Committee also approved 27 billion rupees for Kuwait Petroleum Company to cover exchange losses due to rupee-dollar parity. The government of Pakistan is utilizing a credit facility by the company against supply of diesel oil.