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LAHORE, March 18: Pakistan Flour Mills Association (PFMA) on Monday asked the State Bank of Pakistan to withdraw 25 per cent cash margin, terming it “anti-trade” for the coming wheat procurement season.
In a press statement, the association said State Bank’s March 13 notification had offset the millers/traders plan. It said the traders could not afford to deposit 25 per cent of the loan amount they needed for wheat procurement.
It would increase the cost of production beyond the millers reach, they said.
The association has called a meeting on 22nd to discuss the issue and prepare a procurement plan.
