LAHORE: The Pakistan Economy Watch (PEW), accusing the Trade Development Authority of Pakistan (TDAP) of paying no attention to find export markets for surplus wheat, said that this irresponsible behaviour will destroy the local market.
PEW President Dr Murtaza Mughal said that wheat crop has been badly hit by rain in many areas while slow buying by the authorities due to lack of storage capacity is giving opportunity to profiteers to exploit farmers. The surplus stock may hit mark of 10 million tonnes of which a part will be wasted due to insufficient and substandard storage capacities.
Dr Murtaza Mughal, President PEW said that export is the only solution in sight but the authorities responsible for it are not interested in discharging duties and promoting rural economy.
He said that government should hike import duty on wheat by 100 percent to discourage imports having a destabilising impact on market and deter importers who bring second-rate wheat to make fortunes on the cost of masses.
Government plans to spend Rs222 billion on purchase of wheat which will boost stock but absence of proper storage and piecemeal exports would play havoc with the stored wheat.
