Wheat import scandal: Initial report 'reveals' shocking details

LAHORE: The initial report of the probe regarding wheat import scandal revealed shocking details, ARY News reported citing sources. 

According to sources, the initial report stated that the federal institutions are responsible for the unnecessary import of wheat. Despite existing reserves of 40.47 lakh metric tons in Punjab, an additional 35.87 lakh metric tons were imported, creating an artificial shortage.

Sources said that the report suspects officials from the Punjab Food Department and Pasco of involvement in the scandal.

The investigation has found that wheat was imported at a cost of Rs 2600-2900 per maund and sold at a higher price of Rs 4700 per maund. The import permission was granted for 1 million metric tons, but it was exceeded without limit, sources added.

Also read: Pakistan: Wheat import caused $1 bln loss to national kitty

Sources revealed that the federal institutions allowed private companies to import wheat without proper checks, and some officials from the Ministry of Finance also failed to scrutinize the large-scale import.

Furthermore, the wheat import continued from September 26, 2023, to March 31, 2024, resulting in a massive influx of wheat in the market. The complete report will be presented to the government within three days, sources added.

It is pertinent to mention here that the wheat import caused a $1 billion loss to the national kitty.

Sources revealed that private sectors favored in wheat imports in Pakistan, and these wrong decisions have resulted in a loss of $1 billion to the national exchequer.