LAHORE – The government in a meeting has decided that the exporters can export minimum of 1,000 metric tons of wheat while the limit for opening LC with government assistance is 2,500 metric tons.
The meeting held regarding wheat export at Secretary Food Office which was presided over by of Provincial Minister for Food Bilal Yasin and attended by wheat exporters, flour mill owners, Secretary Food and Director Food. The exporters will be bound to export wheat within 30 days of lifting wheat and their bank warranty will be returned after verification of Food Department.
Mr Yasin said that the government is also considering to export wheat products for earning foreign exchange and providing maximum job opportunities to the people.
The provincial government has decided to export surplus reserves of wheat and federal government has allowed export of wheat on a rebate of 50 dollar per metric ton. The meeting was informed that the persons desirous of exporting wheat can deposit Rs.1260 per 40 kg in the form of bank draft and 55 dollars per metric ton rebate as bank warranty within 120 days.
Welcoming the decision, PFMA Central Chairman Asim Raza Ahmad said that decision of the government to extend a subsidy of US55 dollars per ton on wheat and wheat products equal to 800,000 tons to be exported from Punjab and a US45 dollars per ton subsidy on export of 400,000 tons of wheat and wheat products from Sindh through land and sea routes would enable the provincial departments to clear their godowns and make room for the coming procurements.
