Local wheat price hiked by 72 percent on one year, Pace of wheat imports unsatisfactory
Karachi (Pakistan Point News - 19th October, 2020) President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday asked the government to prevent looming food crisis by expediting wheat imports.
Wheat prices have been increased by five percent in the international market in last twelve months while it jumped by 72 percent in the local market, he said.
Mian Zahid Hussain said that mismanagement, corruption and slow imports can trigger a severe wheat crisis in the country.
Talking to the business community, the veteran business leader said that this is not the first time that country has failed to achieve the wheat production target but it is very first time that mafia has been allowed to play havoc with the masses.
Earlier, in case of wheat shortage, the government would start immediate imports but this time around, it was marred with wrong policy decisions and mismanagement pushing masses into a malnutrition crisis.
He said that the next wheat crop will arrive in six months and millions of tonnes of wheat is needed to fill the demand and supply gap and stabilise prices.
Importing small quantity of wheat has no impact on market, prices or hoarders which should be realised as soon as possible.
He said that the reports of problems in wheat import negotiations with Russia are not going down well with the stakeholders as ample stocks are necessary to provide relief to masses.
Mafia will continue to disrupt market unless all the needed wheat is imported without delay and it will push masses to unrest as the country is already facing political turmoil.
The food mafia is out to frustrate efforts of the PM to provide relief to the masses, he said.
