PM’s timely decision on wheat import saved $US10.3 million, meeting told

Islamabad: As a result of Prime Minister Shehbaz Sharif’s timely decision on the second tender of wheat import, the government has saved $US10.3 million of the national treasury, the meeting on wheat reserves informed on Tuesday.

The review meeting chaired by PM Sharif on wheat stocks highlighted that the prime minister’s instruction for the second tender of wheat import of 300,000 metric tons saved US$34.54 per metric ton.

The meeting attended by federal ministers Miftah Ismail, Syed Naveed Qamar, Tariq Bashir Cheema, and relevant senior officials was told that the current wheat production in the country was estimated at 26.389 MMT while the previous year’s reserves were 1.806 MMT.

In view of the total reserves of 28.199MMT against the total national demand of 30.79MMT and to eliminate the gap between demand and reserves, the government had decided to import wheat in a timely manner through the Economic Coordination Committee.

On cutting the per metric ton price reduction in tender, he lauded the efforts of the Ministry of Commerce, Ministry of Food Security, and other relevant ministries.

PM Sharif directed the authorities concerned to ensure the availability of wheat in the country at cheaper rates.

He emphasized ensuring the buffer stock along with the release of wheat until the next harvest and also sought an urgent report after determining the quantum of buffer stock.

The prime minister expressed concern over the lack of comprehensive planning regarding wheat reserves in the last four years.

He regretted that Pakistan being an agricultural country was on the brink of a food crisis due to the lack of planning of the previous government.

Injustice has been done to the 220 million people of the country by not making comprehensive plans for meeting the demand and supply of wheat, he added.

PM Sharif stressed holding consultation with an international expert to ensure devise a strategy for import of quality and quantity of wheat.

The meeting was informed that the materialization of the government’s agreement with Russia for the import of two million metric tons of wheat was in the final stages.

Furthermore, the meeting discussed in detail the progress on the import of wheat through Gwadar port.

The prime minister issued instructions for effective measures for the import of wheat through Gwadar port.

SOURCE: APP