ISLAMABAD: The Trading Corporation of Pakistan (TCP) and the PASSCO imported expensive wheat from overseas to inflict billions of rupees losses to the national exchequer, according to Auditor General’s report.
The people had to purchase the wheat flour on very expensive price, the Auditor General disclosed in annual report.
The report pointed out that the private sector imported wheat on cheaper price than the TCP and the PASSCO.
According to the auditor general’s report the national exchequer suffered 31.32 million US dollars loss owing to wheat import on inflated rates.
The audit report focussed on the import data of wheat from Year 2017 to 2022.
The Trading Corporation of Pakistan didn’t compare wheat prices in the international market. The TCP imported wheat at the price of 274 US$ per metric tonne, while the PASSCO imported wheat at the rate of 282 US$ per metric tonne, the report shared.
Meanwhile, the private sector imported wheat at the prices of US$ 250, 255 and 262 per metric tonne, according to the report.
The wheat import on inflated rates was resulted in hike in flour prices and consumers were forced to purchase wheat flour on inflated rates.
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