Pakistan’s federal government has fixed the wheat price at Rs. 4,500 per maund following consultations with all provincial governments. Federal Minister for National Food Security and Research Rana Tanveer Hussain announced the decision at a press conference in Islamabad.
Hussain said the government had formulated a National Wheat Policy for the first time in nearly four decades. It plans to maintain strategic reserves of up to six million metric tonnes during the current year to ensure supplies.
The minister said Pakistan would not face a wheat shortage this year, adding that the government had made adequate arrangements to meet national needs. Imported wheat would also cost approximately Rs. 4,500 per maund, so the government would prioritise buying from Pakistani farmers.
More than 1.3 million metric tonnes of wheat from PASSCO stocks have been supplied to the provinces, Hussain said. The government could also arrange imports of up to 550,000 metric tonnes, depending on provincial demand.
He described the recent rise in wheat prices as artificial and driven by certain market players. Hussain said stocks were sufficient and prices were expected to return to normal within the next few days. The government is monitoring the market and will act against artificial shortages and unjustified price increases.
The minister also said policies had been formulated on seeds, olives and biotechnology to modernise agriculture. Khalid Mahmood Khokhar, president of Pakistan Kissan Ittehad, welcomed the wheat price decision and said farmers needed a predictable and reasonable price for their produce.
