ISLAMABAD: The government has saved $US10.3 million from the national treasury as a consequence of Prime Minister Shehbaz Sharif’s prompt decision on the second wheat import tender, according to the meeting on wheat reserves on Tuesday.
The review meeting on wheat inventories presided over by PM Sharif, revealed that the prime minister’s direction for the second tender of wheat import of 300,000 metric tonnes saved US$34.54 per metric tonne.
The meeting, attended by federal ministers Miftah Ismail, Syed Naveed Qamar, Tariq Bashir Cheema, and pertinent senior officials, was informed that the country’s current wheat output was estimated at 26.389 MMT, with reserves of 1.806 MMT from the previous year.
Given the overall reserves of 28.199MMT vs total national demand of 30.79MMT, the government decided to import wheat on time through the Economic Coordination Committee in order to close the demand-reserve imbalance.
He praised the work of the Ministry of Commerce, the Ministry of Food Security, and other relevant ministries in lowering the per metric tonne price decrease in the tender.
PM Sharif has asked the relevant agencies to ensure that wheat is available in the country at lower prices. He underlined the need of guaranteeing buffer stock together with wheat release till the next harvest, and he also requested an urgent report after estimating the amount of buffer stock.
The prime minister voiced worry over the past four years’ lack of systematic preparation for wheat stockpiles. He regretted that Pakistan, an agricultural country, was on the verge of a food catastrophe owing to the previous government’s lack of preparedness.
Injustice has been done to the country’s 220 million people by failing to develop comprehensive strategies for meeting wheat demand and supply, he continued.
PM Sharif emphasized the importance of consulting with an international expert to develop a plan for importing quality and quantity of wheat.
The conference was informed that the government’s deal with Russia for the import of two million metric tonnes of wheat was nearing completion.
Furthermore, the meeting went over the status of wheat imports through Gwadar port in great detail.
The prime minister directed that adequate efforts be taken for the import of wheat through Gwadar port.
