Chief Minister Sindh Syed Qaim Ali Shah on Friday reviewed the wheat crop 2011 releases and discussed the supply of wheat/atta on subsidised rate to the poor during Ramazan.
CM Sindh presided a meeting in this regard at CM House to discus the wheat position in the province; Sindh Food Minister Mir Nadir All Magsi, Minister Finance Syed Murad Ali Shah, Chief Secretary Sindh Raja Muhammad Abbas, Secretary Food, Naseer Jamali, Secretary Finance, Naveed Kamran Baloch, Sindh Food Minister and Secretary Food Sindh also attended, says an official handout.
CM was informed that the provincial food department has almost achieved its target of procurement of wheat, and as on 30.6.2011, the department has procured 1.403 million metric tones of wheat, as against the target of 1.500 MMT. They informed that the department has 1.523 MMT wheat stocks, which are sufficient for the province to cater for the annual requirement. Regarding current position, the meeting was informed that the Government Issue Price is Rs 2,550.00 per bag and the open market prices are slightly higher by Rs 100.00 per bag and there is pressure on Government stocks.
The chakky-owners of Hyderabad Region have also demanded the releases of wheat in the district, due to high price of wheat in open market, they added. They further said that the government is expected to sustain a loss ranging Rs 4,058.870 million on the stocks of 1,200 MMT depending upon market rates which are however fluctuating.
The loss so accrue shall have to be borne by the Provincial Government, they said. They further added that wheat is perishable commodity and due to infestation, deterioration and prolong storage losing its quality and quantity under the circumstances mentioned above and in order to provide stability to the market, they proposed that existing Issue Price may be implemented from July 2011 onward.
However, any increase in price definitely will cause increase in atta price in the province, they said. Chief Minister Sindh approved that present subsidised rate of Rs 975 per 40 kg will be continued and in case of increase of price of wheat in market the subsidised rate may be enhanced in consultation with Finance Department.
Chief Minister Sindh also directed Revenue and Food Department to properly monitor process of distribution of atta being provided to poor people on concessionary rate of Rs 21 per kg during Ramazan, as there are complaints that atta is not being provided properly to poor.