Cereal Association of Pakistan (CAP) has said that exports of wheat products are allowed freely without any restrictions through sea route. Muzzammil R Chappal, chairman CAP, has said that Pakistan will have a bumper wheat crop this year and Prime Minister Imran Khan has already confirmed this last month. Therefore, exports of wheat and wheat products will continue to offload carryover commodity stocks.
He informed that wheat harvesting has already begun across the country and initial estimates expecting an increase of 5-10 mounds per acre in wheat yields in Sindh supported by timely winter rains and beneficial weather.
As per ministry of commerce export policy order currently in force, export of wheat and wheat flour is allowed and already being exported without any subsidy and/or freight rebate from the government.
He informed that during the month of February 2019 alone, 53,128 metric tons wheat and 53,727 metric tons wheat flour was exported from the government and private/open market stocks. These volumes are expected to grow substantially in the next few months, he added.
In order to facilitate and encourage the private sector to play its role in enhancing exports without any undue burden on the national exchequer in the shape of subsidies or freight rebate, exports of wheat and wheat products are allowed freely without any restrictions through sea route from Karachi port and Port Qasim.
Chappal said that with International Monetary Fund (IMF) settlement and devaluation imminent and a bumper wheat crop, commercial exports of surplus wheat and wheat products will continue to become more viable and private sector wish to play its role to achieve the highest exports target end of this year.
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