PRICES of wheat and the process for import of the commodity to offset its shortage in the domestic market have become an enigma due to lack of clear vision and understanding of the situation by the relevant ministries and forums. It was because of the unrealistic rise in prices that the Government had decided to import wheat but instead of a fall in prices these have increased by two percent in the past one week alone despite arrival of imported wheat.
There are issues that demand urgent attention of the authorities concerned otherwise the situation would become more complicated with the passage of time and people would suffer more. It is strange that as the country was faced with a crisis, the Ministry of National Food Security submitted half-baked summary before the Economic Coordination Committee of the Cabinet for import of additional 1.5 million tonnes of wheat and as a result the forum could not take a decision in the absence of information on demand, supply, stocks, local prices and financing details. Blunders have also been committed in the import process and consequently Pakistan had to pay additional 60 dollar per metric tonne as timely decision was not taken to import the commodity at $215 a tonne. The claim of Flour Mills Association that the Government prevented mills from procuring wheat at the time of harvesting, allowing hoarders and profiteers to have a field day. Advisor on Finance Dr Hafiz Sheikh has promised convening of a special meeting of the ECC on wheat situation and hopefully it would have threadbare discussion on what is happening and take prudent decisions to safeguard interests of consumers.
