Private sector allowed to import wheat.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Monday allowed the private sector to import wheat to control prices of wheat and flour in local market and ensure availability of the commodity at reasonable price across the country.

The ECC chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh also decided not to restrict the import of wheat to any limit by the private sector and further decided to monitor the situation on monthly basis to ensure availability of wheat and flour in all parts of the country at a reasonable price.

The meeting further decided that provincial governments would be requested to announce their 'Wheat Release Policy' immediately.

Punjab would release 900,000 tons of wheat to flour mills of the province during the next two months at a release price proposed by the Punjab government in order to prevent surge in price of wheat/flour. Similarly, the government of Sindh would also be requested to announce its policy.

The ECC also decided that PASSCO would assess the immediate requirement of Khyber Pakhtunkhwa and Balochistan and arrange to improve supply wheat as per agreed targets. Meanwhile, movement of wheat would be facilitated between Punjab, KP and Balochistan.

The ECC decided that overall free movement of wheat should be ensured across the border and to ensure movement across districts and provinces. Private wheat importers may be facilitated and arrangements between importers and KP/Balochistan should also be arranged and calculate the impact of subsidy for the import, if any.

It has decided that the financial implications of import/non-imports by...