LAHORE: The incidental charges, less storage facilities, rotten wheat and declining exports will cost Punjab Rs 33 billion losses, said Dr Bilal Sufi, Chairman Flour Milling Industry Committee of FPCCI.
He said that the Punjab Food Department will have a carry forward wheat stock of 2.2 million tonnes, out of total 5 million tonnes, entering into third year due to negligence of policy makers. He said the situation was worst in Punjab where last year carry forward wheat stock was 2.1 million tonnes, and this year it was going to be 2.2 million tonnes.
Leaders of the industry in FPCCI said that carry forward of such a huge quantity, entering third year, would have detrimental consequences for Punjab’s economy.
Sufi said the federal government had set the wheat procurement target for the 2016 season at 6.95 million tonnes against the target of 6.6 million tonnes in the previous year.
In a recent meeting, held with the stakeholders concerned, the Ministry of National Food Security and Research decided to purchase 6.95 million tonnes of wheat from the farmers in the new harvesting season to meet domestic consumption requirements.
Out of the total target, the Punjab government would buy 4.5 million tonnes, Sindh will purchase 1 million tonnes, Khyber-Pakhtunkhwa 0.35 million tonnes, Balochistan 0.10 million tonnes and Pakistan Agriculture Services and Supplies Corporation (Passco) 1 million tonnes.
