Accommodating surplus wheat, TDAP must find export markets

Sialkot—Former chairman of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Ahmad Jawad has said Trade Development Authority of Pakistan (TDAP) should pay heed for finding export markets to accommodate the surplus wheat as it will destabilize local market and pave way for exploitation of farmers. Talking to media persons here on Tuesday, Ahmad Jawad said that according to statistics, the current wheat stock in Pakistan stands at around seven million tons, compared to six million tons reported in the corresponding period last year. Alongside, surplus production of wheat is expected during 2015-16 because of better water availability and subsidised DAP.
He said that the Economic Coordination Committee (ECC) of the cabinet has already approved subsidy on wheat exports to bring it at par with the international rate Ahmad Jawad warned that if immediate measures were not taken then it was feared that surplus stock will be wasted due to insufficient and substandard storage capacities. He said that export was the only solution in sight, but the authorities responsible have not interested in discharging duties and promoting rural economy.
Though the situation has worsened for farmers as the private investors have delayed buying unless they get commodity on throwaway prices, he added. The former chairman FPCCI said that since the wheat price plummeted in the international market, a large quantity of surplus wheat has been lying in the country and the federal government has been looking over different options to sell off the stock before to arrival the next crop. TDAP and other departments responsible for finding export markets seems to be more interested in politics, useless exhibitions, cultural activities and providing subsidies to favourites ignoring rural communities which are dubbed as backbone of the economy; he remarked—INP

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