LAHORE, July 14: Federal Food Minister Sikandar Hayat Khan Bosan has said the government is considering early release of wheat stocks to mills to ease the prices of flour in the market.

“A decision to this effect is expected at the next meeting of the Economic Coordination Committee (ECC),” he told newsmen on Saturday at the inaugural ceremony of the country’s first-ever pesticide manufacturing plant at a local hotel.

Traditionally, wheat releases to flour mills begin during September.

Bosan said Pakistan had produced 23.5 million ton wheat this year, adding that the decision to export the commodity was taken to ensure a good return to growers.

However, he said, hoarding by certain elements led to bullish sentiments in domestic wheat market, prompting suspension of export by the government.

“The export has been banned to keep the wheat price at a reasonable level in the domestic market,” Bosan said.

Responding to a question about cultivation of cotton this year, he said the area under silver fibre crop increased in the country, especially in Punjab.

“The crop is in a good condition as no pest attack has been reported so far,” he said.

The minister said the government was working on controlling the problem of milly bug attack on cotton crop, adding that a team of experts had been constituted to monitor the situation.

“The team has prepared a recipe of pesticides to control the problem. We are hopeful that the problem will be under control soon,” he said.

Bosan said the government was in favour of cultivation of BT cotton. However, he said, the BT gene should be injected only in those cotton varieties of Pakistan which had resistance against virus. — APP