Flour Crisis: ECC Approves Import Of 0.3 Million Metric Ton Wheat


Flour crisis: ECC approves import of 0.3 million metric ton wheat

Advisor to PM on Finance Abdul Hafeez Sheikh approved approval recommending import of wheat to meet the soaring price of flour across the country.

ISLAMABAD: (Urdu Point/Pakistan Point News-Jan 20th, 2020) Amid increasing wheat crisis across the country, the Economic Coordination Committee approved a proposal seeking important of wheat without duty on a emergency basis here on Monday.

Economic Coordination Committee (ECC) headed by Advisor to Prime Minister on Finance Abdul Hafeez Sheikh approved the import of wheat.

“Import of 0.3 million metric tons of wheat has been approved,” said the sources while quoting decision of the ECC. The government, according to the sources, approved proposal for import to save consumers from soaring wheat prices, even though sufficient stocks of the commodity are available.

“The move has been launched to maintain minimum stocks of wheat at 0.2 million tons as fear of a looming threat shortage and hoarding inform prices across the country,” he added. The sources said that Australia, Central Asian republics and other countries might be approached for import of wheat in the country.

Prices of wheat have gone high in Pakistan the last week and the Naanbai associations in KP and some parts of Punjab threatened to go on strike.

Initially, the crisis appeared when the Sindh province decided not to procure wheat because different officials were facing corruption probes on account of procurement of wheat.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.