Private sector firms have opened Letters of Credit (LCs) for 70,000 tons black gram to be imported from Tanzania, Australia and Ethiopia, official sources told Business Recorder here on Tuesday.
"The private sector has opened 42 L/Cs for importing 70,000 tons black gram, which will reach here before Ramazan and the government will extend Rs 6 per kg subsidy," they said. Sources said that the orders placed by the private sector were in addition to 10,000 tons gram, which is already in the market.
Trading Corporation of Pakistan (TCP) has also floated tenders for importing 25,000 tons black gram, which may be imported from India, they said.
Minfal is of the view that stocks of Daal Mash (washed), Daal Masur, and daal Mung (washed) with local stockists and imported stocks would be available in the market before Ramazan. And it is expected that the prices of all pulses would remain stable, except gram due to its high demand in Ramazan.
Industries Ministry had recommended to the government that customs duty on RBD palm olien and palm oil should be reduced by Rs 4000 per ton to offset the impact of increase in prices in world market, but the top decision makers adopted wait and see policy.
An official in federal government said that edible oil price at the international level has started showing downward trend and would come to the previous level within a week.
He said that edible oil prices would also come down in local market. However, the government would continue strict monitoring of prices both before and during Ramazan.
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