Pakistan Approves Import of One Million Tons of Wheat Amid Supply Concerns

Pakistan has approved the import of one million tons of wheat through the Trading Corporation of Pakistan to meet domestic requirements and prevent further increases in flour and bread prices. The government had faced supply concerns as wheat held in private storage had not been released into the market at the expected pace, with hoarders and middlemen anticipating higher prices.

The decision reflects growing concerns over the depletion of strategic wheat reserves. Despite approval from the International Monetary Fund, the federal and provincial governments did not procure sufficient quantities, while PASSCO's strategic reserves of around 1.8 million tons have been steadily depleted against provincial requirements.

To address this issue, Deputy Prime Minister and Foreign Minister Ishaq Dar approved the import after completing the conditions attached to the decision of the Economic Coordination Committee of the Cabinet. The ECC had earlier approved the import of one million tons of wheat and formed a steering committee to ensure that all requirements were completed before imports could proceed.