AVN 67.25 Increased By ▲ 2.05 (3.14%)
BAFL 31.10 Increased By ▲ 0.36 (1.17%)
BOP 4.89 Increased By ▲ 0.09 (1.88%)
CNERGY 3.80 Increased By ▲ 0.09 (2.43%)
DFML 14.43 Increased By ▲ 0.22 (1.55%)
DGKC 41.73 Increased By ▲ 0.68 (1.66%)
EPCL 46.55 Increased By ▲ 0.10 (0.22%)
FCCL 11.69 Increased By ▲ 0.29 (2.54%)
FFL 5.10 Increased By ▲ 0.05 (0.99%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.41 Increased By ▲ 0.08 (0.77%)
HUBC 67.89 Increased By ▲ 1.02 (1.53%)
HUMNL 5.77 Increased By ▲ 0.06 (1.05%)
KAPCO 28.05 Increased By ▲ 0.29 (1.04%)
KEL 2.30 Increased By ▲ 0.10 (4.55%)
LOTCHEM 25.05 Increased By ▲ 0.15 (0.6%)
MLCF 21.63 Increased By ▲ 0.19 (0.89%)
NETSOL 86.00 Increased By ▲ 2.40 (2.87%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 11.05 Increased By ▲ 0.04 (0.36%)
PIBTL 4.22 No Change ▼ 0.00 (0%)
PPL 80.15 Increased By ▲ 5.67 (7.61%)
PRL 13.62 Increased By ▲ 0.19 (1.41%)
SILK 0.90 Decreased By ▼ -0.02 (-2.17%)
SNGP 43.47 Increased By ▲ 3.07 (7.6%)
TELE 5.95 Increased By ▲ 0.09 (1.54%)
TPLP 15.80 Increased By ▲ 0.40 (2.6%)
TRG 115.10 Increased By ▲ 3.69 (3.31%)
UNITY 13.82 Increased By ▲ 0.07 (0.51%)
WTL 1.16 Increased By ▲ 0.02 (1.75%)
BR100 4,126 Increased By 88.7 (2.2%)
BR30 14,907 Increased By 495 (3.43%)
KSE100 41,272 Increased By 801 (1.98%)
KSE30 15,533 Increased By 370.8 (2.45%)
Follow us

ISLAMABAD: The federal government has reportedly requested Sindh government to review Minimum Support Price (MSP) of wheat of Rs4000/ 40 kg as it will cause a massive inflationary spiral in the province.

The issue of MSP of Sindh was raised by the Minister for National Food Security and Research, Tariq Bashir Cheema, who is tasked to announce MSP of wheat at the national level after consultations with the provincial governments.

On September 13, 2023, during the discussion, the Minister for National Food Security & Research drew the attention of the Cabinet to the announcement of Rs 4000 / per 40 kg as support price of wheat by the Government of Sindh.

He contended that setting such an exorbitant support price by the province would extraordinarily increase the Atta price and unleash an inflationary spiral. Considering the burden on the population, especially urban, he recommended that the Government of Sindh may be requested to review the decision.

Federal govt to announce wheat MSP next month

Some of the Cabinet members, however, felt that there was a need to incentivize the farmers in switching to wheat crops. It was argued that instead of importing expensive wheat, it was more desirable to give better compensation to our own farmers, which would help ramp up domestic production and, resultantly, save precious foreign exchange.

The majority of the members were, however, of the view that a committee be constituted to informally take up the matter with the Government of Sindh.

After detailed discussion, the Cabinet constituted a Committee comprising of Finance Minister (Convener), minister for National Food Security and Research, minister for Commerce, minister for Maritime Affairs and adviser to PM on Kashmir Affairs and GB.

The federal government intends to announce MSP of Rs 2800-3000/ 40 kg but All Pakistan Farmers Ittehad wants MSP of Rs 4000/ 40 kg as was announced by the Sindh government.

The matter of import of urea fertilizer also came under discussion and it was pointed out that 300,000 MT was a very liberal figure whereas shortfall could be met though importing 200,000 MT. Ministry of Industries & Production noted that in face of the looming gas shortage, which would affect domestic production, a safe estimate had been made accordingly and decision of ECC may be ratified to allow import of urea fertilizer up to 300,000 MT.

On September 21, presiding over a meeting on zoom, prime minister directed that based on survey and feedback, National Food Security and Research Coordination Committee to advise on wheat seeds requirements to Minister for Planning, Development and Special Initiatives (PD&SI) who shall hold meting with the Minister for Commerce and Minister for National Food Security and Research for wheat and urea procurement from Kazakhstan and China, in the wake of Prime Minister’s discussion with the heads of the states of the two countries on the sidelines of UNGA.

Copyright Business Recorder, 2022

Comments

Comments are closed.

Centre requests Sindh govt to review wheat MSP

Intra-day update: KSE-100 up over 600 points amid return of positive sentiment

Second hike in two weeks: Honda Atlas jacks up car prices by up to Rs550,000

Tariff of indigenous gas-run CPPs likely to be reviewed

Govt prediction of achieving $3bn current account surplus in FY23 ‘unrealistic’: PBC

Talks extended for two days: IMF demands govt withdraw power subsidy

Former military ruler Musharraf’s body to be flown to Pakistan

Govt schedules All Parties Conference for February 9

All set for inking pact with Denmark under DETI

Major earthquake strikes Turkey, Syria; about 300 dead, many trapped

FBR to check benami transactions of civil servants