The Economic Coordination Committee (ECC) of Pakistan has sanctioned a Rs100 billion technical supplementary grant aimed at protecting consumers from potential increases in petroleum prices. The decision was made during an ECC meeting chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held at the Finance Division on Friday.
These funds will be allocated to the Prime Minister’s Austerity Fund 2026 via a Technical Supplementary Grant. The committee was briefed that, given the ongoing developments in the Gulf region and their likely effects on global petroleum prices, the Prime Minister instructed the mobilization of Public Sector Development Program (PSDP) resources to cover price differentials on petroleum products and shield consumers from price volatility.
Notably, the ECC highlighted that the proposed funding will be sourced through the rationalization and surrender of PSDP allocations by various ministries and divisions. This process is being coordinated by the Planning, Development and Special Initiatives Division in collaboration with Principal Accounting Officers.
In a significant development, the ECC also approved a plan to procure up to one million metric tonnes of wheat for strategic reserves under the Interim National Wheat Policy (INWP) 2025–26. The Ministry of National Food Security and Research submitted the proposal for wheat procurement through private sector participation.
The procurement will be conducted by the private sector through a transparent and competitive process. However, the committee instructed that critical components such as financial implications, pricing benchmarks, and operational procedures be further refined in consultation with the Finance Division before final approval.
The ECC stressed that procurement volumes and financial commitments should remain adaptable, responding to updated crop assessments and prevailing market conditions to ensure flexibility.
