AGL 5.70 Decreased By ▼ -0.05 (-0.87%)
ANL 8.95 Increased By ▲ 0.10 (1.13%)
AVN 79.15 Decreased By ▼ -0.35 (-0.44%)
BOP 5.27 Increased By ▲ 0.10 (1.93%)
CNERGY 4.73 Increased By ▲ 0.04 (0.85%)
EFERT 81.55 Increased By ▲ 0.45 (0.55%)
EPCL 51.10 Increased By ▲ 0.11 (0.22%)
FCCL 13.39 Decreased By ▼ -0.10 (-0.74%)
FFL 5.82 Increased By ▲ 0.01 (0.17%)
FLYNG 7.15 Decreased By ▼ -0.06 (-0.83%)
FNEL 4.83 Increased By ▲ 0.03 (0.63%)
GGGL 8.94 Increased By ▲ 0.24 (2.76%)
GGL 16.08 Increased By ▲ 0.33 (2.1%)
HUMNL 5.80 Decreased By ▼ -0.05 (-0.85%)
KEL 2.66 Increased By ▲ 0.08 (3.1%)
LOTCHEM 29.25 Decreased By ▼ -0.25 (-0.85%)
MLCF 25.00 Decreased By ▼ -0.30 (-1.19%)
OGDC 72.62 Increased By ▲ 0.17 (0.23%)
PAEL 15.34 Decreased By ▼ -0.06 (-0.39%)
PIBTL 5.10 Decreased By ▼ -0.05 (-0.97%)
PRL 16.35 Increased By ▲ 0.10 (0.62%)
SILK 1.08 Increased By ▲ 0.01 (0.93%)
TELE 9.40 Increased By ▲ 0.10 (1.08%)
TPL 7.43 Increased By ▲ 0.08 (1.09%)
TPLP 18.81 Decreased By ▼ -0.35 (-1.83%)
TREET 22.07 Increased By ▲ 0.22 (1.01%)
TRG 141.85 Decreased By ▼ -0.95 (-0.67%)
UNITY 17.15 Decreased By ▼ -0.05 (-0.29%)
WAVES 9.92 Decreased By ▼ -0.11 (-1.1%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 4,264 Increased By 15.8 (0.37%)
BR30 15,773 Increased By 11.5 (0.07%)
KSE100 42,457 Increased By 108.6 (0.26%)
KSE30 15,694 Increased By 62.1 (0.4%)
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 are closed.

Centre requests Sindh govt to review wheat MSP

Intra-day update: rupee records gains against US dollar

Rise in TTP attacks in Pakistan should be concern for Afghan Taliban: Rana Sanaullah

Dar dismisses sovereign default threat

Ban on GMO soyabean: govt, importers take divergent positions

Finance Bill 2023: SEZs: FBR to withdraw turnover tax exemption

Google app payments: IT ministry says issue resolved

Musk says Twitter clash with Apple a ‘misunderstanding’

Dollar plunges to 3-month low vs yen as Powell says Fed to go slow

Encashment of SBLC: Resolve Hubco-CPHGC dispute, PM asks authorities concerned

England openers score a ton each in 1st Pakistan Test