The Khyber Pakhtunkhwa (KP) government on Monday said that it will import 150,000 tonnes of wheat worth Rs8.5 billion in order to fulfill the shortage of flour faced by the province.
According to reports, the meeting of the provincial cabinet which approved the decision to import wheat also approved Rs3 billion to flour mills, a sum that will be used to import wheat and ensure the provision of affordable flour to the end consumers.
KP Chief Minister’s Special Assistant for Information and Local Government Kamran Muhammad Bangash said that the provincial cabinet has formed a committee which will hold talks with the private sector regarding the procurement of wheat.
Earlier on Friday, the Economic Coordination Committee (ECC) had allowed the Trading Corporation of Pakistan (TCP) to place an import order of 200,000 tonnes of wheat, following the import of 500,000 tonnes of the same by the private sector.
The ECC meeting, chaired by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, had given the TCP a go-ahead for the import of 200,000 tonnes of wheat for Pakistan Agricultural Storage and Services Corporation (PASSCO) after the Ministry of National Food Security and Research Secretary Omar Hamid Khan informed that 500,000 tonnes of wheat were also being imported by the private sector, and that the first shipment was scheduled to reach the country’s port on August 26, 2020.
It was observed that the arrival of 700,000 tonnes of wheat in the next couple of months would help defuse price volatility, overcome the shortage and discourage hoarding of this essential commodity in the country.