Islamabad: Pakistan has approved the import of one million tonnes of wheat after strategic stocks held by the Pakistan Agricultural Storage and Services Corporation (PASSCO) nearly ran out.
According to details, the federal and provincial governments failed to procure sufficient wheat despite permission from the International Monetary Fund (IMF), resulting in PASSCO’s strategic wheat reserves falling to critically low levels.
Following the sharp decline in available stocks, the Economic Coordination Committee (ECC) approved the import of one million tonnes of wheat to meet the country’s requirements.
A steering committee has also been constituted to complete the necessary conditions and procedures before the import process begins.
According to officials, the requirements include pre shipment inspection to ensure that the imported wheat meets the necessary quality and other standards before being dispatched to Pakistan.
Provincial governments will also be required to provide funds according to their respective wheat requirements before the import process moves forward.
