ISLAMABAD, Sept 1: The first urea shipment of 22,000 tons will arrive here on Wednesday for improving its availability in rice and cotton belts of Punjab and Sindh. More shipments would reach here as per an agreed schedule, said Federal Finance Minister Naveed Qamar while presiding over a meeting of the Economy Monitoring Committee (EMC) on Monday.

The committee was informed that the government had already signed an agreement with the Saudi government for purchase of 135,000 tons of urea. Urea availability in the Punjab and Sindh, particularly in rice and cotton belts, has improved, the meeting was informed.

The minister asked the ministry of food, agriculture and livestock to work out modalities for import of urea from Kuwait and other friendly countries to meet Rabi season’s crop input demand of growers.

The meeting was informed that an agreement for import of 50,000 tons of wheat from the US would be finalised by Sept 30. After this, modalities would be worked out for subsequent similar agreements to beef up domestic wheat stocks.

The meeting was informed about an agreement for white wheat purchase from the US, and it was stated that position concerning release of wheat and subsequent grinding for flour distribution has positive indications.

The EMC was informed that DAP price shall shortly be notified in consultation with all stakeholders.

The finance minister also directed the food ministry to submit wheat import requirements according to varying needs of various areas, along with estimated foreign exchange requirements.

It was stated that sugar pricing at the moment was also stable, with the availability of adequate stocks countrywide.

Rice production presently has improved and substantial rice production has been forecast during the next year. It was further stated that the existing rice pricing in the country corresponds to last year’s pricing slabs.

Earlier, the EMC was informed that the issue of import of 500,000 tons of wheat on deferred payment from Canada had been put to necessary homework, and would be finalised shortly. This would help augment domestic wheat stocks.

The EMC directed the ministry of petroleum to bring up proposals to cut down petroleum product’s consumption to reduce the import bill, and also to submit a viable strategy to regulate countrywide consumption of gas supply during the next winter season.