Wheat support price raised to Rs1,050/40 kg

RECORDER REPORT

ISLAMABAD: The government has fixed Rs 1,050 as wheat support price per 40 kg with an increase of Rs100 over previous price of Rs 950, allowing Passco to procure wheat from farmers.

The decision to this effect was taken in a meeting presided over by Prime Minister Yousaf Raza Gilani after being informed that the support price is meant to cover increase in the cost of wheat production.

Detailed discussion was held during the meeting on availability of urea in the country and it was decided that shortage of fertilizers, estimated at one million tons for Rabbi crop, would be met through expeditious import. The government would provide a Rs 25 billion subsidy on imported urea, and directed the relevant Ministries to ensure that subsidy provided by the government must reach the common growers.

The meeting also decided that the import of fertilizers must be ensured in the month December, 2011, which is considered highest consumption period as far as wheat crop is concerned.  The Prime Minister also constituted a committee comprising Finance Minister Abdul Hafeez Sheikh and Minister for Industries with the task to remove bottlenecks in distribution of fertilizers and disparity between imported and local urea price.  An official said that 0.2 million tons urea has already reached Karachi and remaining 0.3 million tons imported urea is scheduled to reach in December 2011.

Gilani also directed the committee to ensure elimination of black marketing, profiteering and hoarding by middle men.

The meeting was attended by Minister for Finance Dr Abdul Hafeez Sheikh, Minister for Kashmir Affairs & GB Manzoor Ahmad Wattoo, Minister for National Food Security & Research Israr Ullah Zehri, Minister for Religious Affairs Khursheed Ahmad Shah, Minister for Water and Power Naveed Qamar, Acting Governor of State Bank of Pakistan Kamran Shahzad, Secretary Finance Dr Waqar Masood, Chairman of FBR Salman Saddique, Secretary National Food Security Shafqat Hussain Naghmi, MD Passco Maj. Gen. Sohail Shafqat, Member Crop Science Dr Nadeem Amjad, Wheat Commissioner Dr Shakeel Ahmad Khan and officials of relevant Ministries.