Pakistan Wheat
Pakistan government decides to import 4m MT of wheat
Islamabad: The Pakistan government has decided to import four million metric tons of wheat this year to meet the domestic consumption, media reports said.
Finance Minister Shaukat Tarin again asked the Pakistan Bureau of Statistics (PBS) to change its price methodology as he believed that the prices of essential commodities were over-reported, officials of the Ministry of Finance and PBS told The Express Tribune.
The PBS is under pressure as the government had not been able to control wheat, wheat flour and sugar prices that doubled in less than three years, the newspaper reported.
Headed by Tarin, the National Price Monitoring Committee (NPMC) took the decision to import four million metric tons of wheat. A summary will now be presented before the Economic Coordination Committee (ECC) of the Cabinet for formal approval, the newspaper reported.
Last year, the wheat production was 26 million metric tons and the country had imported 2.16 million metric tons of the commodity to fulfill the domestic wheat requirements.
The meeting was informed that for the year 2021-22, the wheat consumption is estimated at 29.3 million metric tons and the government will have to import three million metric tons to meet the country’s requirement.
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