Amid depleting public sector stock in Pakistan, the country’s finance minister Shaukat Tarin said that there is an immediate need to build six million metric tonnes of wheat reserves.
According to a report by ANI, in a National Price Monitoring Committee (NPMC) meeting, the minister was informed that the total wheat stocks across the country were 647,687 metric tons as of last week, which at current consumption levels would last for hardly two-and-a-half weeks.
In another report, the Express Tribune said that “the strategic reserves will have to be built by importing the commodity due to estimated production of slightly over 26 million metric tons of wheat this year, which is already three million tons short of coming year’s total consumption requirements.”
Pakistan produced 26 million metric tons of wheat last year buy had to import 2.16 million metric tons to meet demand at home.
The country’s finance minister has also underlined the track the supply chain management “from farmer to end-consumer in order to minimise the difference between wholesale and retail prices for basic commodities,” the report said, adding that this would ensure a win-win situation for both the farmer and the consumers.
Prices of wheat and wheat flour have significantly increased since 2018—from the time when the Imran Khan government took charge.