The federal government is poised to continue importing wheat as procurement from the international market continued without delay during its second month in power, sources informed ProPakistani.
Sources said 86,800 metric tons of wheat worth Rs. 7 billion were imported in April alone. In the two tumultuous months of the newly elected government, approximately 778,000 metric tons of wheat have been imported so far, with 691,136 metric tons imported in the first month alone.
Official data for March 2024 indicates that a total of 2,758,226 metric tons of wheat valued at Rs. 57.19 billion was imported by the previous caretaker government with Prime Minister Anwaarul Haq Kakar leading the affairs of state. By February 2024, wheat imports had reached Rs. 225.78 billion rupees since the beginning of the ongoing fiscal year.
For July-March 2024, wheat imports totaled 3,449,436 metric tons, valued at Rs. 282.9 billion rupees, sources added.
On Tuesday, the Economic Coordination Committee (ECC) of the cabinet Tues
day gave approval to increase the wheat procurement target for PASSCO from 1.40 to 1.80 MMT along with the required Cash Credit Limit for the purchase of additional quantity.
The ECC also approved the proposal for the import of 200,000 MTs of Urea fertilizer to meet the requirements for Kharif 2024.
Source: Pro Pakistani