ISLAMABAD (Kashmir English): The government has shared some good news with the public, who were concerned about rising flour prices caused by a wheat shortage.
Federal Minister Rana Tanveer Hussain has announced that wheat prices will return to normal within the next few days. Explaining the high cost of wheat, he stated that the recent price hike is artificial and the result of market interference by certain elements.
According to the Federal Minister, the government—in consultation with all the provinces—has set the price of wheat at 4,500 rupees per maund. For the first time in 40 years, the federal government has formulated a comprehensive national wheat policy; the price was determined through consultation and consensus among all provincial governments. Setting the price at 4,500 rupees per maund is intended to safeguard the interests of farmers.
Rana Tanveer Hussain stated that strategic wheat reserves of up to 6 million metric tons will be maintained this year. There will be no wheat shortage in the country; Pakistan possesses ample wheat stocks, so the public need not worry. The government will prioritize purchasing wheat from local farmers rather than relying on imports.
He added that over 1.3 million metric tons of wheat have already been supplied to the provinces from PASSCO’s (Pakistan Agricultural Storage and Services Corporation) reserves. Furthermore, arrangements can be made to import up to 550,000 metric tons of wheat, depending on the demand from the provinces.
