The government, through the Trading Corporation of Pakistan (TCP), has issued an international tender for the import of 300,000 tons of wheat.
Pakistan’s Textile and Petrochemical Company (TCPTCP) has procured 250,000 tons of wheat through a previous tender at the rate of $407 per ton. The government is importing wheat to overcome the shortage and build up strategic reserves. TCP will receive bids from international suppliers till 26 September.
The ECC has approved the revision of an earlier decision to import 3 MMT of milling wheat and allowed the maintenance of strategic reserves at the suggested level. The ministry informed that the current quantity of wheat stocks is insufficient in the wake of the recent floods due to which farmers have incurred financial damages.