KARACHI: The Trading Corporation of Pakistan (TCP) has completed import of some 1.7 million tons as the last consignment has reached Pakistan on Monday.
Under the TCP’s wheat import operation 2020, last vessel MV EMMARKRIS-III carrying 57,530 metric tons imported wheat berthed at FAP Terminal, Port Qasim on Monday March 22, 2021. With arrival of this shipment, the TCP has completed wheat operation 2020 by importing some 1.7 million tons of the commodity during the last six months.
The entire quantity of 1.7 million tons of wheat was arrived through 30 bulk vessels from worldwide resources. On the directives of the Secretary National Food Security and Research, the imported commodity was efficiently lifted by provincial governments and Passco directly from the port. As per details, over one million tons of imported wheat was supplied to the Punjab. Government of Punjab has lifted 1,024,718 metric tons, Government of KPK lifted 444,400 metric ton and Government of Sindh 117,750 metric ton. Whereas, some 114,931 metric ton would stand lifted by PASSCO after complete lifting of MV EMMARKRIS-III from Port Qasim, Karachi.
After successfully completion of wheat import operation 2020, following the directives of the federal government, TCP has also initiated wheat import operation 2021 and recently floated fresh tender for the import of some 300,000 metric tons.
The country’s last year production of wheat and sugar was lower than consumption, of which prices of the both commodities were on surge in the local market that compelled the federal government to import essential commodities to avoid shortage and fill the supply and demand gap.
The TCP imported these commodities on the directives of the Economic Coordination Committee (ECC) of the Cabinet. The ECC in its meeting held on July 15, 2020, allowed TCP, private sector, provincial governments and PASSCO import wheat and sugar in the country.
The TCP floated multiple tenders for the import of wheat. The wheat was imported in a staggered manner to fetch the best and competitive price as well as to save carrying cost and meet the domestic shortage.
It may be mentioned here that during the last season wheat shortfall was over 2 million metric tons. The available wheat stocks were 26 million metric tons including 25.5 million metric ton of fresh wheat produce and some 0.602 million metric tons of from the carry forward stocks as against the estimated consumption of some 27.5 million tons.
Copyright Business Recorder, 2021
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