ISLAMABAD: The government has decided to import four million tonnes of wheat to save money worth millions as the global price of wheat has declined by 15 U.S. dollars per metric ton.
According to the details, the global price of wheat has come down by 15 per metric tonne. Pakistan will be able to import large quantities of low-priced wheat which will allay the fears of a wheat shortage. The reduction in global wheat prices might save Pakistan Rs 9 billion on importing 4 million tonnes.
Experts, in this regard, said that rising wheat prices at the national level, hoarding, profiteering, and artificial inflation may not alleviate the suffering of the people, but the threat of a severe wheat crisis at the national level will be allayed.Â
A day earlier, the Federal Ministry of National Food Security had issued a circular on import of four million tonnes of wheat, of which two million tonnes would be imported by the Wheat Trading Corporation and one million tonnes by Pasco, which would reduce the shortage of wheat.
On the other hand, the private sector was also allowed to import one million tonnes of wheat. The Khyber Pakhtunkhwa government has demanded one million tonnes of wheat from the federal government, of which half will be imported wheat and half will be domestic.
Karachi flour mills will have an abundance of wheat as Punjab already has an excess of wheat. The private sector, which will import one million tonnes of wheat, has no need in Punjab. This wheat can be used in Karachi and Sindh.
Earlier, Mian Zahid Hussain, chairman of National Business Group Pakistan, president of Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister, said that food security and nutrition were on the rise due to rising inflation and unemployment in the country and the problem is getting worse.
Talking about the wheat crisis nine days ago today, Zahid Hussain said that instead of imposing an additional tax on flour mills in the new budget, the existing taxes should also be abolished so that bread could become cheaper. Concerns have been raised across the country over the imposition of a tax on flour mills in the budget.
