Staff Reporter
Karachi
President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, FPCCI’s Businessmen Panel Sr. Vice Chairman, and former provincial minister Mian Zahid Hussain has lauded the decision of the ECC to allow the private sector to import wheat. The decision will tackle shortages, discourage hoarders and stabilize prices to provide relief to the masses, he said.
Talking to the business community on Friday, he said that the decision was delayed unnecessarily and warnings from stakeholders were ignored otherwise mafia would not have been able to exploit poor masses.
Mian Zahid Hussain said the wheat production is almost 25 million tonnes while the requirement is around 27.5 million tonnes which should be bridged through imports immediately as price in the international market is favourable.
The veteran business leader noted an eye should be kept on the supply and demand situation so that government departments could intervene if negative forces come into play.
He said that many people have hoarded wheat in anticipation of high prices and may farmers are not selling wheat for extra money which is resulting in price fluctuation.
