Chitral Times Report
ISLAMABAD: Pakistan will import 0.180 MMT of wheat from Russia on, as part of an arrangement to increase supplies. The Pakistani government is ready to sign a MoU with Moscow for the supply of grain on a government-to-government basis. PASSCO has been nominated as a procurement agency on behalf of Government of Pakistan to negotiate terms and conditions with the Russian side. Cabinet has already approved the MoU. Shipments from Russia are likely to arrive in November. The pre checking of the wheat will be completed in Russia and later on quality inspection will be done by DPP as their SOPs at Karachi port. Pakistan also strategizes to import 1.5 million tons of wheat through state-run Trading Corporation of Pakistan, while more than 1 million tons of the grain will be imported by the private sector. Syed Fakhar Imam, Federal Minister for National Food Security and Research has mentioned that 18 vessels have been booked for 1.092 MMT of imported wheat by Private sector till January. Out of which 7 vessels carrying 0.432 MMT is already at home. He mentioned that TCP has agreed to import 0.330 MMT of wheat which is expected to be arrived during October, 2020 to January, 2021.And next tender of TCP for 0.30 MMT will be opened on coming Monday. The current position of wheat stocks include Punjab with 3,059,219 tonnes, Sindh with 1,259,395 tonnes, KPK with 90,109 tonnes, Balochistan with 65,082 tones and PASSCO with 701,259 tones.
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Meanwhile Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Cabinet Division. ECC considered and approved the import of 180,000 MT of wheat from Russia on GTG basis waiving off all taxes/levies duties on GTG import of wheat. The forum was informed that about 5 million tons of wheat was available with the public sector in stocks. In terms of import 430,000 tons has already been imported by the private sector and another 1.1 million ton was expected to be imported by the end of December 2020. In terms of wheat import by the public sector, TCP has already opened an LC for importing 330, 0000 MT of wheat while TCP is in the process of tendering another about 1.2 million tons. Another 180,000 tons are imported through GTG arrangement from Russia. ECC also allowed the exemption from sales tax on supply of sugar imported through Trade Corporation of Pakistan of upto 300,000 MT and allowed the amendment of SRO 751(1)/2020 dated August 20, 2020 of the Revenue Division for the purpose.