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August 23, 2019

Ministry asks FBR to allow export of wheat products

Business

August 23, 2019

KARACHI: The Federal Board of Revenue (FBR) has allowed export of wheat products on recommendations of the Ministry of National Food Security and Research, sources said on Thursday.

The Ministry of National Food Security and Research in a letter to the FBR said that it had issued a notification on July 30, 2017 for imposing ban on the export of wheat/wheat flour. “However, other wheat products like fine, suji and maida are excluded from the ban,” it said.

The national food security ministry advised the revenue board to make necessary amendments in their appropriate Pakistan Customs Tariff (PCT) Codes to allow export of the said wheat products.

Sources in Pakistan Customs said that on the recommendations of the ministry, the export of wheat products had been allowed. The Economic Coordination Committee (ECC) of the Cabinet in its meeting on July 17, 2019 had imposed a ban on the export of wheat and wheat flour.

It was decided by the government to impose a ban on export of wheat and wheat flour owing to rising concern over the price hike trend of roti (bread) and other wheat

products in the wake of low wheat production in the country.

The ECC had also asked to convene a meeting of the National Price Monitoring Committee to suggest measures for controlling price hike of roti and other wheat products in the local market with the cooperation of the provincial governments.

However, the Ministry of National Food Security and Research had briefed during the meeting that adequate stocks of wheat were available in the country to cater the needs of the domestic population.

The meeting was briefed that adequate stocks of wheat were available in the country. As per official statistics, the country has 28 million tons wheat in stock against the total requirement of 25.84 million tonnes of wheat.

It was also highlighted that the procured quantity of wheat during this year was 33 percent less than the procured quantities of wheat during the corresponding periods of last year. During the Rabi season 2018-19, the Ministry of National Food Security and Research recorded 24.12 million tonnes of wheat production against the projected target of 25.5 million tonnes for the year.

The procured quantity of wheat during this year was also 33 percent less than the procured quantities of wheat during the corresponding period of the last fiscal year, it said.

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