To set a minimum support price for the new wheat harvest for the fiscal year 2022–2023, the Economic Coordination Committee (ECC) of the government will convene today (Monday).
The Ministry of National Food Security and Research’s summary for determining a viable support price for the top agricultural product will be discussed by the committee, which will convene with Finance Minister Ishaq Dar presiding.
The top economic committee will think about setting the support price of wheat at Rs. 3,200-3,200 per maund (around 40 kg), in an effort to help the farming community, which has already sustained significant harm as a result of the terrible monsoon floods.
Wheat’s support price in FY22 was set at Rs. 2,200. Price increases of at least Rs. 1,000 per maund are anticipated in comparison to last year.
The sowing season for wheat starts on October 10 (today), and it is customary to establish a uniform minimum support price before that date.