-Pakistan Agriculture Storage and Services Corporation (Passco) has completed logistic arrangements for procuring 1.6 million metric tons of wheat ex-Rabi crop 2010, Business Recorder has learnt. According to sources, Passco procured 592,000 metric tons of wheat as of May 9, 2010. Passco has established as many as 203 wheat purchasing centres in Punjab and Sindh.
A total of 192 centres have been established in 15 Tehsils of Punjab and 3 in Sindh. The procurement target for year 2010 is 1.6 million tons at the support price of Rs 950/-per 40-kg. The target is 1.560 million tons from 15 Tehsils of Punjab and 0.040 million tons from 3 Tehsils of Sindh.
According to documents available with the Business Recorder, in Punjab Passco has set a target of 150,000 Metric Tons (MT) in Tehsil Pindi Bhattian of district Hafizabad, 40,000 MT in Tehsil Gojra, 50,000 MT in Okara, 150,000 MT in Pakpattan, 120,000 MT in Burewala, 190,000 MT in Mailsi, 110,000 MT in Mian Channu, 170,000 MT in district Multan of Tehsils Lodhran and Kehror Pacca, 230,000 MT in Bahawalnagar and Minchanabad, 110,000MT in Alipur, 90,000 MT in Khanpur and 150,000MT in Layyah.
Similarly, in Sindh, Passco has set a total target of 40,000 MT in Tehsils including Sobo Dero of district Khairpur, Kandiaro of district Naushero Feroz and Sakrand of district Nawab Shah. According to documents the cash credit requirement for procurement of wheat crop 2010 is Rs 42 billion, but so far Rs 29 billion has been managed (through bank borrowings) and distributed among Passco Zones for procurement of wheat, which would enable purchase of 1.1 million tons only.
Sources said that negotiations are under way to arrange funds ie Rs 13 billion for purchase of the remaining 0.5 million tons. The wheat procurement target crop 2009 assigned by the government to Passco was 1.5 million tons, which was subsequently enhanced to 2 million tons and further increased to 2.5 million tons. Passco procured 2.143 million metric tons last year.
The pace of lifting on the part of some agencies was quite slow because of surplus Wheat/Atta. Ministry of Food and Agriculture has directed all agencies to expedite lifting of allocated stocks in order to enable Passco to meet its procurement targets during 2010; at present Passco is carrying approximately 0.8 million tons.
According to documents, wheat disposed off up to 09/05/2010 is 1.3420 million tons and balance wheat is 0.8033 million tons. Passco also meets the wheat requirements of Utility Stores Corporation (USC), military, Pakistan's donation to the World Food Programme and to any other brotherly country, as directed by the government.