The Economic Coordination Committee of the Cabinet has approved the provision of Pakistan Agricultural Storage and Services Corporation's wheat stocks to all recipient agencies to ensure the timely disposal of stocks.

The approval was granted at the rate of 85 percent local and 15 percent imported wheat during a meeting of the ECC held in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair.

The ECC also approved allowing the import of petroleum products on foreign suppliers' accounts through Customs bonded storage facilities.

This is aimed at the development and strengthening of the country's energy security architecture in the oil and gas sector, which includes indigenization, development of strategic petroleum reserves and promotion of Customs bonded storage facilities.