ISLAMABAD, Dec 3: The government has directed the Trading Corporation of Pakistan (TCP) to purchase 500,000 tons of rice from the open market to support farmers who are not getting reasonable prices to sell their crop.

The decision was taken in a meeting held on Wednesday with Federal Minister for Food and Agriculture Nazar Mohammad Gondal in the chair.

The TCP was directed to immediately float a tender of 200,000 tons of Irri-6 and KS-282 and 100,000 million tons of super basmati.

The remaining target would be achieved in the second phase.

The TCP will use storage facilities of the successful rice mills on the same pattern as was done in the case of purchase of sugar.

It was decided that the ministry of commerce would expedite the finalisation of three memorandums of understanding for the export of rice to the Philippines and Indonesia.