Islamabad: Minister of National Food Security and Research, Syed Fakhar Imam and Aleem Khan, provincial minister of agriculture held a press conference in Islamabad yesterday. Addressing the press conference, Minister for National Food Security and Research Syed Fakhr Imam said the revision of the minimum support price from Rs1,650 to Rs1,800 had been decided by Prime Minister Imran Khan at a meeting held to discuss issues related to wheat production, import and incentives to wheat growers.
The price of wheat flour will remain the same and subsidy will be provided by the government so consumers do not face a price hike in wheat flour.
The Federal and Provincial government will ensure that half of the strategic reserves will be procured through import. The government procuring half of its strategic requirement from abroad will ease the pressure on domestic availability of wheat so that millers can procure the possible amount they can to lessen the pressure on wheat prices.
Banking Credit lines for wheat pricurement will only be available to flour mills and storages registered with the government. Credit line applications are to mention storage sites meant for wheat procurement which will be geo tagged. Flour mills will be free to procure as much wheat as is required but it will be mandatory that the mills grind wheat procured and not hoard it for further sale. The government will take measures to ensure these steps. Also, having or procuring wheat (through cash) of more than 200 maunds will have to be declared to the government.