Pakistan is facing an unprecedented price hike, as crisis in the form of wheat flour shortage has hit people across the country while the government and other stakeholders are blaming to one another instead of taking the responsibility and finding a remedy. In order to provide a little bit relief to nation, the Economic Coordination Committee (ECC) of the federal cabinet on Monday (Jan 20) approved a proposal recommending the import of wheat without regulatory duty on an emergency basis.
During the meeting of the ECC held in Islamabad, under the chair of Adviser to the Prime Minister on Finance Abdul Hafeez Sheikh, it was told that quantity is enough for two months of domestic consumption — 2.1m tonnes per month — while fresh crop would also start coming to the market by the middle of March.
The ECC approved the import of 0.3 million metric tons of wheat. According to media reports, the government decided to approve the proposal for import to save consumers from soaring wheat prices, even though sufficient stocks of the commodity are available.
Its worth mentioning here that the flour price ranged between Rs800 and Rs1,200 per 20kg. It witnessed an increase of up to Rs20per kg against the official rate of Rs1,350-1,400 per 40kg.
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