Pakistan In Focus - Pakistan approves import of 500,000 tons wheat.
Pakistan on Tuesday approved import of 500,000 tons of wheat at a price of Rs103 per kg, which is cheaper than the previous tender, as it faces a challenge to allocate another Rs54 billion for food subsidies just five days after implementation of the new budget. The wheat import decision was taken by the Economic Coordination Committee (ECC) of the cabinet, which also allowed rupee-based trade with Afghanistan for one year to take off the pressure on foreign exchange reserves. However, it relaxed the...
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