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| November 29, 2001 | Thursday | Ramazan 13, 1422 |
4m tons of wheat to be procured, says official
ISLAMABAD, Nov 28: The government has decided to fix wheat procurement target for the public sector at four million tons in the forthcoming harvesting season.
The private sector will be encouraged to operate for the procurement by allowing capital availability through the State Bank with 12 per cent markup, Wheat Commissioner Abdul Qadir Baloch told APP here on Wednesday.
There will be no restrictions on movement of the commodity and the export of wheat is allowed.
He said the wheat procurement target for the public sector during the last year was fixed at two million tons, but the government enhanced the target to three million tons and finally to four million tons.
He said the private sector remained shy in wheat procurement and as a result, the farmers could not receive the support price and market rates prevailed between Rs240 and Rs270 per 40Kg.
This happened as a result of a major procurement policy shift and there was also a carry-over stock of 3.55 million tons, he said.
The wheat commissioner said the cabinet had decided to keep the procurement price at Rs300 per 40Kg.
Qadir Baloch said the private sector exported 313,733 tons of wheat as compared to 230,259 tons by the public sector.—APP
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