The Islamabad Chamber of Small Traders (ICST) on Sunday said the government's policy of unnecessarily encouraging wheat cultivation has backfired as it has resulted in surplus stocks and annual losses to the tune of billions.
The government has taken a laudable step to freeze the wheat support price but it should consider a cut of Rs 300 to discourage wheat cultivation to reduce losses, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
In a statement, he said lauded the government for keeping support price for wheat unchanged terming it in the best interest of the masses as the decision will help to keep price of Roti unchanged and keep inflation under control.
However, he said that wheat support price should be decreased as it has attracted a lot of farmers resulting in additional cultivation of wheat which must be reduced as it has damaged other crops.
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