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October 19, 2008
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Sunday
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Shawwal 19, 1429
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Passco to buy 1m tons rice from farmers
By Our Staff Reporter
ISLAMABAD, Oct 18: Federal Minister for Food Agriculture and Livestock, Nazar Muhammad Gondal on Saturday directed the Passco to purchase one million tons of Irri-6 rice at Rs700 per 40 kg from farmers.
The minimum support price is aimed at keeping rice prices stable in the domestic market at a time when its price is witnessing a fall in the international market.
The minister issued directives in a meeting here with officials of the Pakistan Agriculture Supplies and Storages Corporation.
The current rice crop is expected to produce over 6.2 million tons of rice compared to 5.6 million tons achieved last year.
The meeting also discussed the mechanism for the establishment of 35 centres by Passco for procurement in the rice producing areas of the country. Out of the 35 centres, 24 will be established in Punjab, eight in Sindh and three in Balochistan.
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