Govt confirms decision to shut down PASSCO despite profits in eight of last 10 years

Pakistan’s federal government will wind up PASSCO despite the corporation posting a Rs6.02 billion profit in 2025-26, Profit by Pakistan Today reported. Minister for National Food Security and Research Rana Tanveer Hussain told the National Assembly that the Economic Coordination Committee approved the plan on December 9, 2025, and the federal cabinet gave its approval on December 23, 2025. He described the move as part of agricultural reforms to lower public costs for wheat procurement and storage and expand private-sector participation.

PASSCO made profits in eight of the 10 financial years from 2016-17 to 2025-26, but recorded losses of Rs862.48 million in 2023-24 and Rs20.48 billion in 2024-25. Hussain said government-directed procurement, storage and financing costs affected its results, alongside its role in holding strategic reserves and supplying wheat in emergencies. The government plans a replacement system for strategic reserves, but has not disclosed its structure, financing or timetable; it also intends to use imports through the Trading Corporation of Pakistan when shortages are confirmed.