Govt confirms its decision to wind up PASSCO

Pakistan’s federal government has reaffirmed that it will close the Pakistan Agricultural Storage and Services Corporation (PASSCO), Business Recorder reported. The Economic Coordination Committee approved the measure on December 9, 2025, and the federal cabinet endorsed it on December 23, 2025. The government says the change forms part of reforms intended to expand private participation in wheat buying, storage, transport and trade, while lowering public costs.

The corporation’s audited accounts show positive results in eight years between 2016-17 and 2025-26, although it posted losses of Rs862.48 million in 2023-24 and Rs20.48 billion in 2024-25. The latest-year annexure lists a Rs6.02 billion profit after tax. Officials say existing stocks are being allocated to provinces, imports can cover confirmed gaps, and a replacement system for strategic reserves is in development, but its design and timetable have not been disclosed. The minister said closure would not end food-security measures, including reserve reviews and market monitoring.