Punjab to Buy 1M Metric Tons of Wheat From PASSCO Amid Supply Concerns
The Punjab government is planning to purchase one million metric tons of wheat from PASSCO at an estimated cost of Rs103.75 billion. According to documents, the finance department has raised objections to the proposal, citing concerns over supply and demand as well as existing reserves.
There are already 1.97 million metric tons of wheat available in the provincial supply chain, which is more than enough to meet current needs. The finance department has instructed officials to clarify the age, quality, and shelf life of PASSCO's wheat before making any purchases.
The purchase price for wheat will be Rs4,150 per 40 kg, while flour mills will be issued Rs3,800 per 40 kg. The food department plans to release 5,000 metric tons of wheat daily to meet the province's needs.