LAHORE: The wheat import has caused a $1 billion loss to the national kitty, ARY News reported on Sunday, citing sources.
According to information received by ARY News from sources, it has been revealed that private sectors have been favored in wheat imports in Pakistan, and these wrong decisions have resulted in a loss of $1 billion to the national exchequer.
According to sources, despite the abundance of wheat, the National Food Security had requested permission for the import of 3,587,000 tons of wheat, and the ECC had given formal approval for wheat imports by the private sector.
Sources say that the National Food Security had initially prepared a summary for importing 1 million tons of wheat.
However, by April 1, 2024, the government had 4.3 million tons of wheat, and with the arrival of the new crop in Sindh in March, there was no need for wheat imports.
Read more: Punjab govt yet to ‘decide’ on wheat procurement
Yesterday, taking strict action on the complaints of farmers, Prime Minister Shehbaz Sharif directed the federal government to purchase wheat from farmers immediately.
PM Shehbaz also increased the target of wheat procurement from 1.4 million metric tons to 1.8 million metric tons, the statement released by PM Office said.
Prime Minister’s decision is expected to benefit thousands of farmers across the country and provide them with a stable income, the statement added.
The prime minister’s decision was welcomed by the farming community, who have been facing difficulties due to delayed wheat procurement in recent years, it added.
