The federal government is set to continue its wheat imports, with procurement from the international market proceeding smoothly into its second month in office, according to sources familiar with the matter as reported by NetMag.
In April alone, 86,800 metric tons of wheat valued at Rs. 7 billion were imported. Over the initial two months of the new government’s tenure, a total of approximately 778,000 metric tons of wheat have been imported, with 691,136 metric tons brought in during the first month alone. Official figures from March 2024 show that the previous caretaker government, under Prime Minister Anwaarul Haq Kakar, imported 2,758,226 metric tons of wheat worth Rs. 57.19 billion. By February 2024, wheat imports had amounted to Rs. 225.78 billion since the start of the fiscal year.
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For the period of July to March 2024, wheat imports totaled 3,449,436 metric tons valued at Rs. 282.9 billion, as per sources.
The Economic Coordination Committee (ECC) of the cabinet, in its recent meeting on Tuesday, approved an increase in the wheat procurement target for PASSCO from 1.40 to 1.80 million metric tons (MMT), along with the necessary Cash Credit Limit for purchasing the additional quantity.
Additionally, the ECC greenlit the import of 200,000 metric tons of Urea fertilizer to meet the requirements for the Kharif season of 2024.
