ISLAMABAD, Sept 30: The ministry of food, agriculture and livestock informed the Economy Monitoring Committee on Tuesday that Canada has offered 750,000 tons of wheat on deferred payment.

The EMC, which met with Federal Minister for Finance, Privatisation and Investment Syed Naveed Qamar in the chair, advised the agriculture ministry to work out financial terms and conditions by seeking extension in validation period so that an assessment of the offer and decisions could be made.

The agriculture ministry gave a presentation on stocks and release of wheat. The committee was informed that import of 1.7 million tons of wheat had been finalised and some of it had already arrived.

The ministry said additional consignments of one million tons (250,000 tons from the US and 750,000 from Canada ) under deferred payment were in the pipeline.

The committee expressed satisfaction over wheat stock position and progressive releases to provinces. Wheat production for 2007-08 stood at 23.3 million tons. Earlier, the government had allowed import of 2.5 million tons to supplement existing stocks.

The ministry of commerce briefed the committee on unloading and transportation of 150,000 tons of imported wheat, adding that the matter needed referral to the economic coordination committee of the cabinet for decision on transportation from Karachi/Gwadar up north.

The ministry of commerce was directed to submit a proposal to the ECC on unloading of imported wheat at ports.The EMC was briefed on the supply of flour in all provinces and in Utility Stores.

The agriculture ministry said prices of urea ranged between Rs650 and Rs700 and briefed the committee on its availability. The import of urea under a Saudi facility of $125 million was on track, it added.

The EMC directed that the Saudi facility should be “tracked fast” to ensure adequate availability of urea in the coming months.

The committee was informed that the availability of urea and DAP fertiliser, coupled with imports, was satisfactory and would meet the demand.