Pakistan Economy Watch (PEW) on Sunday said that Trade Development Authority of Pakistan (TDAP) has failed to find export markets for surplus wheat which will destabilise local market and pave way for exploitation of farmers. Wheat crop has been badly hit by rain in many areas while slow buying by the authorities concerned due to lack of storage capacity is giving opportunity to profiteers to exploit farmers, it said.
The surplus stock may hit mark of ten million tonnes of which a part will be wasted owing to insufficient and substandard storage capacities, President PEW Dr Murtaz Mughal said. Export is the only solution in sight but the authorities responsible for it are not interested in discharging duties and promoting rural economy.
Dr Mughal said the government should hike import duty on wheat by 100 percent to discourage imports having a destabilising impact on market and deter importers who bring second-rate wheat to make fortunes on the cost of masses.
The government plans to spend Rs 222 billion on purchase of wheat which will boost stock but in absence of proper storage and piecemeal exports would play havoc with the stored wheat.
The situation has worsened for farmers as the private investors have delayed buying unless they get commodity on throwaway prices.
The departments responsible for finding export markets seem to be more interested in politics, useless exhibitions, cultural activities and providing subsidies to favourites ignoring rural communities which are dubbed as backbone of the economy, Dr Mughal added.
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