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

The government of Pakistan has approved the import of one million tons of wheat to meet domestic requirements and prevent further increases in flour and bread prices. Deputy Prime Minister and Foreign Minister Ishaq Dar gave his approval after the completion of conditions attached to the decision made by the Economic Coordination Committee of the Cabinet.

The ECC had earlier approved the import and formed a steering committee to ensure that all necessary requirements were completed before imports could proceed. These included pre-shipment inspection, securing contributions from provincial governments, and allowing the Finance Ministry to deduct relevant amounts from provincial shares under the National Finance Commission arrangement where necessary.

Pakistan produced around 28.6 million tons of wheat last year, which was considered sufficient to meet domestic consumption requirements. However, the government is now facing supply concerns as wheat held in private storage has not been released into the market at the expected pace.