Govt plans six million tonnes of strategic wheat reserves, sets price at Rs4,500/maund after consultations with provinces, IMF: food minister

The federal government plans to hold strategic wheat stocks of up to six million tonnes this year and has set a price of Rs4,500 per maund, Food Security Minister Rana Tanveer Hussain said on Monday. Profit by Pakistan Today reported that the decision followed consultations with provincial governments and the International Monetary Fund, and forms part of a National Wheat Policy developed after nearly four decades.

Hussain said more than 1.3 million tonnes had already been released from PASSCO stocks to provinces, while imports of up to 550,000 tonnes could be arranged if needed. He said the government would give priority to buying from local farmers and denied that the country faced a shortage, attributing recent price increases to market manipulation. The minister also said the policy aims to stabilise the domestic market and protect food security, while farmers’ representatives welcomed the announced price.