ISLAMABAD: Economic Coordination Committee (ECC) at a meeting chaired by PM’s Adviser on Finance Dr. Hafeez Sheikh. here today, has approved import of 300,000 tons of wheat.
According to details the first shipment will arrive in Pakistan on 15th of February, 2020. ECC has asked Punjab and PASSCO to release their stocks to contain deteriorating wheat crisis. Interestingly Punjab and PASSCO happen to harbor wheat stocks of 41,00,000 tons.
ECC also approved Gas Infrastructure Development Cess (GIDC) waiver of Rs. 400/bag in order to ensure supply of cheap fertilizers to growers.
Relevant pieces published earlier:
Flour crisis: PM orders grand operation against hoarders
ISLAMABAD: The PM, while taking notice of the steep augmentation of four (aatta) prices, has instructed all four provincial authorities to initiate a Grand Operation against hoarders of flour.
Authorities have been directed to arrest and seal the warehouses of those selling flour at higher prices and submit reports within 24 hours.
Meanwhile, the suffering masses are forced to feed less to their children and eat lesser themselves. Leader of the Opposition in the National Assembly Shehbaz Sharif took to the Twitter today to hold: “Aatta crisis and massive price hike is yet another reminder of sheer callousness that is hallmark of the PTI government. People’s lives are being made miserable by the day with government’s apathetic attitude!”
Courtesy Feica (Dawn Staffer)
Khusro Bakhtiar stresses timely release of wheat from PASSCO
10th of December, 2019
ISLAMABAD: Addressing a huddle on wheat distribution here on Monday (9th December, 2019) Makhdoom Khusro Bakhtiar, Federal Minister for National Food Security & Research, has stressed the timely release and availability of wheat to Sindh and KP from PASSCO.
Availability of wheat in the country and its pricing trends, releases of wheat from PASSCO and its financial implications were profoundly discussed in the meeting.
It was unanimously agreed that Pakistan Flour Mills Association (PFMA) will deliver the wheat flour at ex-mill price of Rs.43 per kg in the Metropolis.
KARACHI: As soon as Sindh Government increased the wheat issue price, flour millers have passed the burden on to poor masses.According to details when Government of Sindh augmented the wheat issue price to Rs. 3,450/100 kg bag the millers prompted to raise the rates.
Earlier the wheat issue price was Rs. 3,250. Following the hike of Saturday (26th of October, 2019) the price of 10 kg bag has been fixed at Rs. 485 as compared to Rs 480 earlier. The new rate issued by the millers for Maida and fine flour is Rs. 52.50 as compared to Rs. 50.50 earlier.
It is pertinent to mention here that in the month of April, the price of 10 kg flour bag was Rs. 340, while per kilogram cost of Maida and fine flour was Rs. 36.50. Despite the fact that since April (2019) the per kilogram flour prices augmented to Rs. 16 neither Federal Government of Naya Pakistan nor Provincial Government of Purana Pakistan had given a damn how poor are surviving with such steep rise in the price of their staple food.
Sources informed that traders have horded wheat, while due to shortage few were releasing that at Rs. 4,400/100 kg bag instead of Rs. 4,300/100 kg bag. Surprisingly, despite a good crop and last year’s carry-over stocks, since April the 100 kg wheat bag price had risen by Rs. 1, 400. It has further been insinuated that Sindh government had not procured wheat this year and the issue price has been announced based on the last year’s stocks.
Flour prices augment as Sindh Govt. fails to procure wheat
KARACHI: Flour mills owners, while augmenting the prices of atta, blamed Sindh Government for the hike.
Despite good crop and sizable stocks in godowns of the country, millers justify their move by lamenting that they are forced to buy the wheat from market as Sindh Government failed to procure wheat from growers this year. They maintain unless the Government of Sindh releases at least a hundred thousand tons of wheat from its stock, the augmenting flour prices could not be contained.
Khalid Masood, Chairman Pakistan Flour Mills Association (PFMA) claimed though Sindh Government claimed to harbor a stock of 8,32,000 tons of wheat in stock, there was no wheat in the godowns. He insinuated that the said stock existed only on papers.
PFMA Chairman, informing that in the previous years Sindh Government used to buy 10, 00, 000 tons of wheat from the growers, held that this year, despite carry-over stock, it should have procured half a million to 600,000 tons of wheat.
Till April, 2019 a bag of 100 kilograms of wheat was available for Rs.3000. The same, according to PFMA Chairman Khalid Masood, presently costs Rs.4,300. He warned if the Government of Sindh did not release stocks immediately the pressure on prices would persist.
It is pertinent to mention here that attempting to contain the swelling prices back home, in the third week of September the Government has decided to continue with the ban on wheat exports. As a result wheat export shrunk to 44, 134 tons fetching 10.5 million dollars in July-August, 2019.
It may be recalled that earlier Pakistan exported 2,29,243 tons of wheat earning foreign exchange worth 49 million dollars.
Cabinet’s Economic Coordination Committee has ordered release of 3,50,000 tons of wheat in the month of October (2019) to check the prices. Approving a proposal of the Ministry of National Food Security the Economic Coordination Committee had directed the Government of Sindh to release 100, 000 tons of wheat subject to the condition that it would also release another 100, 000 tons of wheat from its own stocks.
Newspakistan.tv
