Pakistan is yet to finalise its plan to export one million tons of wheat and 0.2 million tons of rice to Iran in lieu of oil and other goods under barter trade arrangements, well informed official sources told Business Recorder.
A committee has been constituted comprising Minister for Water and Power Syed Naveed Qamar, Minister for National Food Security and Research Sanaullah Zehri, Deputy Chairman Planning Commission Dr Nadeem-ul-Haq, Secretary Commerce Zafar Mahmood, Secretary Finance Jawad Rana, Secretary National Food Security and Research Shafqat Naghmi and Passco Managing Director.
The committee has been assigned the task to devise a plan with regard to barter trade with Iran with the following Terms of Reference(ToRs): (i) to explore the possibility of barter arrangements between Pakistan and Iran; (ii) to accelerate process of negotiations between the two countries for confirmation of the transaction; (iii) to structure barter arrangements between Pakistan and Iran; (iv) to identify the institutions/locations from where stocks will be picked up; (v) to identify the items to be imported from Iran; and (vi) to formulate delegation to visit Iran for finalisation of negotiations.
Official documents available with Business Recorder reveal that during discussion in the ECC meeting on March 13, it was revealed that a decision taken during a meeting between the Presidents of Pakistan and Iran related to export of one million tons of wheat to Iran under barter trade.
Some of the ECC members maintained that in case the wheat was sold in the domestic market it would not be possible to honour the commitment made at the summit level. The ECC was further informed that the Iranian government was not interested in the wheat of 2010 crop and Pakistan would be required to export one million tons of 2011 wheat crop to Iran under barter trade. It was further intimated that a lot of discussions with the Iranian authorities had taken place and sample of wheat had been sent to them.
Although the Minister for Water and Power was nominated as the focal person, yet Passco and the Ministry concerned are not fully in picture. However, Ministry of Commerce and Finance Division need to be associated in the matter relating to export of wheat to Iran.
On a query, ECC was informed that the Government Trading Company of Iran will import wheat into Iran. It was also stated that there were a number of issues with regard to barter trade and it would be appropriate to constitute a committee to deliberate on them and submit its recommendations to the ECC in its next meeting.
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