Food Ministry devoted in facilitating wheat importers. Here’s how

Price mechanism for imported wheat will be reviewed in a meeting to be held between importers and the Adviser to the Prime Minister on Finance & Revenue.

The Ministry of National Food Security & Research on Friday said that it would facilitate wheat importers to meet the domestic demand for wheat.

According to a statement provided by the Ministry of National Food Security and Research, duties and taxes on wheat imports, including a 60 percent regulatory duty, 11 percent customs duty, 17 percent sales tax, and a 6 percent withholding tax have been abolished.

Moreover, imported wheat will be excused from the Anti Hoarding Act imposed by the provincial authorities on the production of authenticated import records by the importer. In this aspect, crucial decisions were taken in the Economic Coordination Committee’s (ECC) recent meeting.

Likewise, the Sindh government has also waived off a 1.25 percent charge on the value of imported wheat.

Additionally, the State Bank of Pakistan (SBP) will arrange an inter-bank dollar exchange cover for wheat importers as well, in line with what is supplied to other industries.

The Price mechanism for imported wheat will be reviewed in a meeting to be held between importers and the Adviser to the Prime Minister on Finance & Revenue.

So far, in compliance with an earlier decision of the ECC, the Department of Plant Protection (DPP) has provided import permits to the private sector in two phases.

The Ministry of National Food Security & Research has constituted a monitoring committee to look after issues about the import of wheat. The committee will be led by the Ministry of National Food Security and Research additional secretary and has representation from the Wheat Importers Association as well.

What are your views on this? Share with us in the comments below.

  • This is the way to maintain price stabilty and destroy the wheat mafia and next year increase support price in line with imported price to increase production and build buffer stock to prevent mafias profiting


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