Govt allows import of one million tons of wheat through TCP tender

Profit, citing The News, reports that the federal government has given the go-ahead for importing one million tons of wheat now that every precondition has been fulfilled. The Trading Corporation of Pakistan (TCP) will now hold an open tender with competitive bidding to secure the cargo. Deputy Prime Minister Ishaq Dar confirmed that purchases will follow the corporation's standard procurement procedure.

The Economic Coordination Committee of the Cabinet had earlier approved the import subject to conditions, and it formed a steering committee to verify them. These include a pre-shipment inspection and a requirement that provinces either deposit their share of funds upfront or allow the Finance Ministry to deduct it from their NFC disbursements.

Officials say the 28.6 million tons produced this year is adequate, yet official data indicates stocks are being withheld by hoarders and middlemen expecting a price spike. The import is a stopgap to prevent a rise in flour and roti prices, and the shortfall stems from procurement failures by federal and provincial governments despite IMF clearance. PASSCO's strategic reserves, once 1.8 million tons, have been reduced close to zero after provincial demands are counted.