Islamabad, August 18, 2023 – The cost of wheat flour, a staple food for the masses in Pakistan, has experienced an unprecedented surge of over 132%.
On Tuesday, Prime Minister Shehbaz Sharif instructed the authorities to take strict action against smugglers of wheat, sugar, and urea, which negatively impacts Pakistan’s foreign remittances and deprives its people of their rights.
Karachi, the financial and commercial hub of Pakistan, is likely to face massive shortage of wheat flour shortage as mills have stopped grinding.
ISLAMABAD: Pakistan is purchasing of 450,000 metric tons wheat from Russia as country’s economic coordination committee approved a bid of a Russian company. The Economic Coordination Committee (ECC) of the Cabinet met on Monday which was presided over by Finance Minister Ishaq Dar. READ MORE: Saudi Arabia extends term of $3 billion deposit for Pakistan […]
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved a donation of 50,000 metric tons of wheat to Afghanistan. The Federal Minister for Economic Affairs Division (EAD) Omar Ayub Khan chaired the ECC meeting and took several important decisions. Federal Minister for Energy Hammad Azhar, Abdul Razak Dawood Advisor to Prime Minister […]
KARACHI: The State Bank of Pakistan (SBP) has issued notification to revise instructions regarding bank financing for wheat procurement by the private sector. The SBP issued circular No. 02 of 2021 for amending the instructions issued on March 19, 2021 for financing wheat procurement by the private sector. Following amendments have been notified by the […]
KARACHI: The State Bank of Pakistan (SBP) on Friday issued instructions to banks for procurement of wheat by private sector for the season 2021. The SBP said that for private sector participation in the wheat procurement season 2021, banks are required to strictly fulfill the following minimum conditions for extending financing to eligible borrowers (licensed […]
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved 0.2 million metric tons of wheat for Utility Stores Corporation (USC) to provide relief to masses. 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 today at […]
KARACHI: Prime Minister Imran Khan has constituted a high-level committee to probe wheat/flour crisis and fix responsibility. Taking strict notice of the recent wheat/flour related controversy, Prime Minister Imran Khan has constituted a high-level committee to identify and fix responsibility, if any, on any individual/officer/organization, including any purported benefit to a private party, besides suggesting […]
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday allowed 300,000 tons of wheat to ensure sufficient supply of the commodity and reducing prices in the domestic market. A meeting of the Economic Coordination Committee of the Cabinet (ECC) chaired by Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez […]