KARACHI: Pakistan Stock Exchange above the 98,000 mark on Friday as share prices surged more than 2,000 points in intraday trade
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered an increase in the wheat procurement target from 1.4 million tonnes to 1.8 million tonnes after protests by farmers over delays in the grain’s buying process.
PM Shehbaz has also directed the Pakistan Agricultural Storage and Services Corporation Limited (Passco) the national grain procurement and storage agency — to ensure swift buying to help growers.
According to a statement issued by the Prime Minister’s Office (PMO), Mr Sharif gave the directives on Saturday before leaving for Saudi Arabia to participate in the World Economic Forum’s meeting.
The official press release called the decision “a big relief” for farmers, adding that it was taken following complaints from wheat growers.
“The prime minister has taken the initiative keeping in view the problems confronting the growers regarding the sale of wheat,” it said.
Besides increasing the wheat procurement target, the prime minister also directed Passco to ensure transparency and facilitate the growers on a priority basis.
A bumper crop output has been projected for this season and wheat threshing has already begun in most parts of Punjab, the largest wheat producing province in the county.
However, farmers complained that Passco was not purchasing wheat and flour mills were “exploiting them” by offering rates lower than the government-mandated support price for their crops.
The Sindh and Balochistan governments have set the support price at Rs4,000 per 40kg, while the Khyber Pakhtunkhwa and Punjab governments Rs3,900 per 40kg.
The farmers lament that their production costs have more than doubled in the last one year but they were being forced to sell their produce at the last year’s rates and even lower than that.
The issue also resulted in heated discussions in the National and Punjab Assembly this week.
The National Assembly was told that official procurement has slowed as the caretaker government imported wheat despite having a bumper crop.
National Food Security Minister Rana Tanveer admitted the decision was “wrong”, and the prime minister has already ordered an inquiry into it.
He added that the ministry would write letters to provincial governments to procure maximum wheat from the farmers.
Opposition member Sheikh Waqas Akram warned the government that farmers would be on the streets soon and “the rulers would not be able to face the brunt”.
You May Also Like
TEHRAN: The head of Iran’s Revolutionary Guards described the arrest warrant issued by the International Criminal Court for Israeli Prime
LOWER KURRAM: The death toll in yesterday’s gun attack on passenger vans in Khyber Pakhtunkhwa’s Lower Kurram has risen to 42,