PM's Timely Decision On Wheat Import Saved $10.3 Million, Meeting Told
Mohammad Ali (@ChaudhryMAli88) Published July 26, 2022 | 02:30 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Jul, 2022 ) :As a result of Prime Minister Shehbaz Sharif's timely decision on the second tender of wheat import, the government has saved US$10.3 million of the national treasury, the meeting on wheat reserves informed on Tuesday.
The review meeting chaired by PM Sharif on wheat stocks highlighted that the prime minister's instruction for the second tender of wheat import of 300,000 metric tons saved US$34.54 per metric ton.
The meeting attended by Federal ministers Miftah Ismail, Syed Naveed Qamar, Tariq Bashir Cheema, and relevant senior officials was told that the current wheat production in the country was estimated at 26.389 MMT while the previous year's reserves were 1.806 MMT.
In view of the total reserves of 28.199MMT against the total national demand of 30.79MMT and to bridge the gap between demand and reserves, the government had decided to import wheat in a timely manner through the Economic Coordination Committee.
On cutting the per metric ton price reduction in tender, he lauded the efforts of the Ministry of Commerce, Ministry of Food Security, and other relevant ministries.
PM Sharif directed the authorities concerned to ensure the availability of wheat in the country at cheaper rates.
He emphasized ensuring the buffer stock along with the release of wheat until the next harvest and also sought an urgent report after determining the quantum of buffer stock.
The prime minister expressed concern over the lack of comprehensive planning regarding wheat reserves during the last four years.
He regretted that Pakistan being an agricultural country was on the brink of a food crisis due to the lack of planning of the previous government.
Injustice has been done to the 220 million people of the country by not making comprehensive plans for meeting the demand and supply of wheat, he added.
PM Sharif stressed holding consultation with an international expert to ensure devise a strategy for import of quality and quantity of wheat.
The meeting was informed that the materialization of the government's agreement with Russia for the import of two million metric tons of wheat was in the final stages.
Furthermore, the meeting discussed in detail the progress on the import of wheat through Gwadar port.
The prime minister issued instructions for effective measures for the import of wheat through Gwadar port.
Related Topics
Recent Stories
Delegation of international investors meets Finance Minister
Federal Govt stands with Balochistan for its development: Naqvi
UAE President receives condolences of Prime Minister of Pakistan over passing of ..
ECC approves to enhance wheat procurement targets
UN urges Israel to 'stop escalation' as tanks enter Gaza's Rafah city
EU stumps up $125 mn for Yemen after aid groups' plea
Governor Tessori condemns May 9 riots, calls it a 'pre-planned conspiracy'
PM condoles with UAE President over Sheikh Tahnoun’s death
Milan nets Giro 4th stage, Pogacar retains lead
UBS back in profit after Credit Suisse takeover losses
Asiya Gul lauds Shafaat's services as DG LG
President for dialogue with all political forces in Balochistan
More Stories From Pakistan
-
Mohsin Naqvi pays surprise visit to NADRA center
57 minutes ago -
May 9 vandalism against state of Pakistan: Muqam
2 hours ago -
Federal Govt stands with Balochistan for its development: Naqvi
2 hours ago -
Governor Tessori condemns May 9 riots, calls it a 'pre-planned conspiracy'
2 hours ago -
PM condoles with UAE President over Sheikh Tahnoun’s death
2 hours ago -
Asiya Gul lauds Shafaat's services as DG LG
2 hours ago
-
President for dialogue with all political forces in Balochistan
4 hours ago -
Supreme Court adjourns IHC judges letter case
4 hours ago -
RDMC, Hunar Foundation Vocational Training Center inaugurated in Nokkundi
4 hours ago -
Man critically injured as vehicle catches fire amid CNG filling
4 hours ago -
Provincial health ministers chair meeting of Punjab Blood Transfusion Authority
4 hours ago -
Sheikh Jafar Khan Mandukhel assumes charge as Governor Balochistan
4 hours ago