The import of excess wheat cost the national exchequer Rs 300 billion

The importation of an excessive amount of wheat under a planned scheme during the period of the interim administration resulted in a loss to the national exchequer over Rs300 billion.

According to the sources, Prime Minister Shehbaz Sharif was informed of this at a briefing at the PM Office in Islamabad by the Ministry of National Food Security. They claimed that significant progress had been made in the investigation into the wheat scam, which PM Shehbaz had ordered.

According to the sources, the ministry informed them that, on its proposal, the private sector was granted a total import exemption during the caretaker government’s mandate, rather than a cap. Additionally, wheat dealers were released from customs tax and GST.

It was disclosed in the briefing that the caretaker administration chose to import an additional 2.45 million tons of wheat, despite the fact that 28.18 million tonnes were produced last year.

According to the sources, provincial ministries and Pakistan Agricultural Storage & Services Corporation Limited (PASSCO), the government’s primary grain procurement and storage organization, were only able to purchase 5.87 million tonnes of wheat from producers as opposed to the 7.80 million tonnes that were needed.

According to the briefing, the Ministry of National Food Security issued a summary following the approval of the temporary cabinet, disobeying the suggestions made by the Ministry of Commerce and Trading Corporation of Pakistan (TCP).

It should be mentioned that the nation’s wheat crop is ready, and the regional administrations have also determined the price per 40 kg. The governments of Punjab and Balochistan, meanwhile, have not yet begun buying from the farmers.

Farmers are concerned that wheat is being sold for less than the official rate since the province governments are not buying any wheat.