Extra wheat import caused over Rs300bn loss, claims Food Minister.
Prime Minister Shehbaz Sharif has been briefed on a meticulously planned scheme during the interim government’s tenure that resulted in significant wheat imports, causing a staggering loss of over 300 billion rupees.
Under Prime Minister Shehbaz’s directive, thorough investigations into this wheat scandal have progressed considerably.
According to insiders, the Ministry of National Food Security provided a comprehensive briefing to the Prime Minister’s Office, revealing that during the interim government’s term, the private sector enjoyed complete exemption from wheat import restrictions, contrary to a fixed limit.
Additionally, wheat traders were granted exemptions from customs duty and general sales tax based on recommendations from the Ministry of Finance.
Also read: Punjab sets wheat support price at Rs3,900 per 40kg
The briefing further disclosed that despite a wheat production of 28.18 million tonnes last year, the interim government opted to import an additional 2.45 million tonnes.
However, procurement efforts by the Pakistan Agricultural Storage & Services Corporation Limited (PASSCO) and provincial departments fell short, managing to acquire only 5.87 million tonnes instead of the targeted 7.80 million tonnes from growers.
Of note, after approval from the interim cabinet, the Ministry of National Food Security forwarded a summary overlooking recommendations from the Ministry of Commerce and the Trading Corporation of Pakistan (TCP).
It’s crucial to highlight that while the wheat crop is ripe across the country, provincial governments have set prices per 40kg.
Yet, purchases from farmers by the Punjab and Balochistan governments are pending. Consequently, wheat is being sold below the official rate, prompting concerns among farmers.
Notably, the wheat import debacle is reported to have incurred a substantial loss of Rs300bn to the national treasury.
The government’s crackdown on wheat procurement issues in Punjab has resulted in the arrest of many farmers, including respected leaders, highlighting its failure to address the crisis while undermining farmers’ rights.#Pakistan #FarmersProtest2024 pic.twitter.com/cdGnqyLRfq
— Bogar Khattak (@Bogar_Khattak) April 30, 2024
