Country importing wheat worth $2bn annually: Tariq Cheema

Business Jan, 14 2023
Country importing wheat worth $2bn annually: Tariq Cheema
  • 177
  • 0

ISLAMABAD: Minister for National Food Security and Research Tariq Bashir Cheema said that now Pakistan is importing wheat worth $ 2 billion annually, at one time, Pakistan used to export wheat.

Addressing press conference here, he said that this time “We have to import 2.6 million tonnes of wheat from Russia, out of which we have received 1.3 million tonnes. He said that government had stored 1.8 tonnes of wheat in strategic reserve last year, which will contain 1.5 million this year. There is no shortage of wheat/flour anywhere in country, “We have wheat in abundance and provinces have also been asked to tell how much wheat they want.”

Tariq Cheema said that shortage of wheat in country and noise about prices is unnecessary and government is ready to face all kinds of challenges. He said that all provinces including Khyber Pakhtunkhwa are getting quota wheat and there is no shortage of wheat anywhere in country. He said that Pakistan Agricultural Storage and Services Corporation Ltd does procurement of wheat and all provinces also deal with it in terms of wheat. Replying to question, he said that efforts were being made to reduce reliance on imported food commodities, and enhance local output of food commodities, including that of wheat and oil seeds as edible oil imports swelled to $ 4.5 billion during last year and wheat imports to $ 2 billion.

He said that it was needed to streamline price differential to maintain prices. He said that last year wheat support price was fixed at Rs 2,200 and this year it was proposed to be fixed at Rs 3,000 per 40 kg.

Published in The Daily National Courier, January, 14 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

Our Correspondent
Our Correspondent https://www.dailynationalcourier.com/author/our-correspondent
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

PCMD inks MoU with Ziauddin University

KARACHI: The Dr. Panjwani Center for Molecular Medicine and Drug Research (PCMD), part of the International Center for Chemical and Biological Sciences (ICCBS) at the University of Karachi, has entered into a Memorandum of Understanding (MoU) with th...

ACPK’s “Awami Theater Play” stages Balochi Drama “Wash Rang”

KARACHI: Arts Council of Pakistan Karachi’s 21-day “Awami Theatre Festival” is underway with great enthusiasm. On the festival’s fifth day, the Balochi drama “Wash Rang” (“Beautiful”) was performed at...

PVMA celebrates Atif Ikram Sheikh’s appointment as CACCI Vice President

KARACHI: The Pakistan Vanaspati Manufacturers Association (PVMA) has extended its heartfelt congratulations to Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), on his recent election as Vice Presid...

Meta supports Pakistani creators in Karachi to inspire new wave of content

KARACHI: Meta connected with content creators in Karachi through various engagements starting with an event on November 6 that brought together around 40 creators from across Pakistan. Throughout the week, Meta worked with popular creators like Food...

More like this
Related

Meta supports Pakistani creators in Karachi to inspire new wave of content

KARACHI: Meta connected with content creators in Karachi through various engagements starting with an event on November 6 that brought together around 40 creators from across Pakistan. Throughout the week, Meta worked with popular creators like Food...

Gold price rises by Rs1,400/tola

KARACHI: After a sharp decline in the previous session, gold prices in Pakistan saw a notable rebound on Wednesday, tracking the upward movement in international rates. The price of gold per tola rose by Rs1,400, settling at Rs271,900 in the local m...

Pakistani rupee appreciates marginally against USD

ISLAMABAD: The Pakistani rupee showed a slight improvement against the US dollar on Wednesday, gaining 0.03% in the inter-bank market. At the close of trading, the rupee settled at Rs277.85, marking an increase of Re0.08 compared to the previous day...

KSE-100 ends marginally higher amid volatile trading

KARACHI: The Pakistan Stock Exchange (PSX) saw volatile trading on Wednesday, with the KSE-100 Index closing with a modest gain of 131 points. After starting the session in the red, the index hit an intra-day low of 92,943.08 points. However, a wave...
Need Help? Chat with us