IMF consulted before fixing wheat price, says Rana Tanveer

Federal food security minister Rana Tanveer Hussain said the government set the wheat price at Rs4,500 per maund after consulting the IMF and reaching agreement with provincial governments. Business Recorder reported that the policy, developed after nearly four decades, is intended to support farmers and safeguard food supplies.

The government plans to hold strategic reserves of up to six million tonnes this year and has already provided provinces with more than 1.3 million tonnes from PASSCO stocks. Tanveer said imports of up to 550,000 tonnes could be arranged if needed, while imported wheat would cost about Rs4,900 per maund; he also said DAP prices had risen and urea prices were stable.