The government has devised a comprehensive strategy for wheat procurement to stabilise its price while adequate steps have been taken to achieve procurement target of 5.2 million tonnes set by the government for the year," sources said on Monday. The restrictions on wheat movement have already been lifted and there is no bar on the provincial movement of the commodity. The provincial governments have been directed to double procurement centres as per requirement of growers. Pakistan Agriculture Storage and Supply Corporation (PASSC) has also been directed to procure surplus wheat from farmers facilitating them to get rational price of the produce.
A number of appropriate measures have been introduced to improve procurement and release procedure with a focus on greater role for the private sector and market forces. The Economic Co-ordination Committee (ECC) has directed State Bank of Pakistan (SBP) to provide special credit facility to the private sector for wheat procurement.
The SBP has eased conditions for credit to wheat traders by significantly lowering its security margin requirements to enhance access of private sector to credit facility.
It has also been decided to allow banks to freely finance the procurement of wheat by flourmills from any source in Pakistan and without any restriction on the basis of annual capacity of each flourmill.
Besides, necessary arrangements have also been made for provision of gunny bags on uniform rates to farmers for packing of wheat.
Comments
Comments are closed.