ISLAMABAD: Minister for Law and Justice Azam Nazeer Tarar said that Pakistan Agricultural Storage and Services Corporation Ltd (PASSCO) has increased its wheat procurement target by 35 to 40 per cent this year to give maximum relief to small farmers.
During a question hour session of the National Assembly on Thursday, the minister said while responding to a question from the members that the investigations into the wheat import scandal are underway and those found guilty will be held accountable.
He said that Prime Minister Shehbaz Sharif took serious notice of the wheat import scandal and he has constituted a committee to investigate it. He said that the committee was doing its work and would present its report and recommendations in the house.
The minister acknowledged complaints about wheat procurement and said that the prime minister directed the Federal Investigation Agency (FIA) to register FIRs against those involved.
He said that PASSCO has purchased 1.8 million metric tons (MMT) of wheat from the farmers till 02-06-2024. He said the original procurement target was 1.3 million metric tons, which was increased to 1.8 million metric tons.
The minister said that the global decline in wheat prices has affected the open market. “The government is taking several steps to support the farmers for the next planting season and is coordinating with the provinces,” he said.
He said that the crash in the global wheat market led to domestic prices falling between Rs2,800 and Rs3,200 per mound. He said that the government prioritised providing sacks to small farmers.
He said that the agriculture sector, contributing 22.9 per centto the GDP and 37.4 per cent in employment generation, ensures food security and provides raw materials to the industrial sector. It is also a source of foreign exchange earnings and is significant for sustainable growth.
The minister said that the State Bank of Pakistan’s indicative agricultural credit disbursement target of Rs2,250 billion for FY 2023-24, which is 27 per cent higher than last year’s disbursement of Rs1,776 billion. He said that during 1st July 2023 to 31st March 2024 (FY 2023-24), agriculture lending banks have disbursed Rs1,635.2 billion, which is around 72.7 per cent of the overall
annual target.
He said that the National Seed Development Regulatory Authority has been established, a seed procurement tracking system has been introduced and both central and provincial budgets will reflect subsidies for the agricultural sector.
Answering a question, the minister said that corporate farming activities have been initiated in collaboration with the Special Investment Facilitation Council (SIFC) to enhance the food availability in the country.
He said that in 2024, PASSCO, governments of Sindh, Balochistan and Punjab were allocated a procurement target of 1.4 MMT, 1.00 MMT, 0.050 MMT and 2 MMT respectively. He said that later on, the target of PASSCO was enhanced to 1.8 as per the PM’s direction to give
maximum relief to small farmers.
Copyright Business Recorder, 2024
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