150,000 tonnes Australian wheat bought

The government on Friday accepted the Tradesman International, an Australian firm's offer of $ 224 per tonne C&F Karachi for the import of 150,000 tonnes of wheat to meet domestic needs.
This has changed Pakistan's status to 'wheat importing' country after a break of four years. Historically, Pakistan was dependent on imported commodity to meet its shortfall in production till 1998-99.
The situation turned in Pakistan's favour in 1999-2000, when its local wheat production touched all time high of 22 million tonnes against its consumption of 19 million tonnes.
The very next year bumper crop also consolidated country's stocks position and stabilised the status as wheat exporting country with over one million tonnes exportable produce, though it was not exported due to lethargic attitude of those at the helm of affairs.
The situation has once again reversed, and in 2004, Islamabad is again looking forward to import wheat to meet the country's shortfall.
Interestingly, the authorities have embarked upon their plan of importing the commodity (and that too at an irrationally higher price) despite their claim that adequate stocks were available in the country to meet domestic needs of the commodity for 2003-04.
The Tradesman International would ensure landing of the consignment at Karachi port, not later than February 22, at the agreed rates. The acceptance of delivery and payment by the government of Pakistan would be subject to meeting all specifications given in the tender.
Wheat Monitoring Committee, which met here, with Federal Food Minister Sardar Yar Mohammad Rind in the chair, approved the acceptance of Tradesman International's offer, after a detailed presentation by Managing Director Passco, General Faheem.
Faheem told the meeting that he had negotiated the tariff with all the four firms, which offered the lowest rates to supply commodity to Pakistan in response to an international tender floated by the Passco some time back, and reached the conclusion that Tradesman International met all the specifications given in the tender.
The Passco had received 13 offers from international firms for the import of 150,000 tonnes of wheat, and the lowest offer was of $ 214 per tonne. The Corporation was given mandate last week by the Federal Agriculture Board to negotiate rates with four companies whose offer was comparatively less. The directive was implemented accordingly.
Sources said MD Passco told the wheat monitoring committee that Indian commodity was cheaper than the US and Australian varieties but its import was not advisable as the Indian commodity was infested with Karnalbund and its entry would pose threat to Pakistani standing crop. Similarly, the import of US commodity was ruled out due to its soft variety.