‘Timely decision on wheat import saved $10.3 million’: PM told

Pakistan wheat reserves

Islamabad: A high-level meeting chaired by Prime Minister Shehbaz Sharif in Islamabad Tuesday reviewed the current reserves of wheat in the country, potential demand and import tenders.

During the meeting, Prime Minister Shehbaz was told that the government saved $10.3 million of the national treasury due to the timely decisions taken by the government on wheat import.

It was highlighted that the current wheat production in the country was estimated at 26.389 million metric tons, while the previous year’s reserves were 1.806 MMT. The total reserves are 28.199 million metric tons against the total national demand of 30.79 million metric tons.

On cutting the per metric ton price reduction in tender, Prime Minister Shehbaz 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.

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