desan
President (40k+ posts)
The Khyber Pakhtunkhwa is purchasing wheat at all time high cost price in this current season, which would bear the brunt of additional Rs 3billion to provincial exchequer. The Khyber Pakhtunkhwa Food Department has started procurement of wheat from Pakistan Agriculture Storage and Services Corporation at Rs 37,125 per ton under a set deal between them, a well-placed source said. However, the sources said the cost escalation and revised price of wheat would bear additional amount of Rs 3 billion to the provincial kitty.
Earlier, the PASSCO has allowed to Khyber-Pakhtunkhwa to purchase 400,000 tonne wheat at Rs 30,000 per ton; but the stock shown reluctance to sell it on the province at government fixed price, because of emerging higher price of Rs 32,000 to 34,000 in open market in Punjab two month ago, said a senior official.
The sources said the province will now pay additional Rs 8,000 wheat per ton including transportation and loading and unloading expenses. The revised estimates cost of procurement of wheat per tonne is set at Rs 43,000 per ton, which would be additional burden on the provincial exchequer of Rs 3billion, the sources added. The official informed that the KP government and food authorities are compelled to purchase wheat from Passco, after missing target of 400,000 tonne wheat from purchase of local farmers in current season. Of the total set target of procurement in KP, the official said the authorities were able to procure only 23,500 tonne.
The official blamed that the wheat prices were gone up due to manipulation of Punjab, as the provincial food department has been compelled to get wheat at higher prices against the rate in open market. Despite the negotiation with authorities at Federal level, he said the wheat being sold out at higher cost against the earlier commitment by the PASSCO.
The official said the releases have been opened after arrival of 38,600 tons of wheat, out of the total 100,000 tons from Pakistan Agriculture Storage and Services Corporation under initial phase of the deal. "We are issuing around 1,500 per ton on daily basis to entire province, while the demand is much higher around 6,000 ton per day, the official informed. He added that the KP has low productivity and availability of wheat in required quantity, is making difficult to fulfil the food commodity demand on daily basis. Its total annual wheat consumption requirement is 3.9 million tons, showing a shortage of 2.9 million tons for which it heavily relied on supplies of wheat flour from Punjab, sources added.
http://www.brecorder.com/agricultur...ear-the-brunt-of-additional-rs-three-billion/
Earlier, the PASSCO has allowed to Khyber-Pakhtunkhwa to purchase 400,000 tonne wheat at Rs 30,000 per ton; but the stock shown reluctance to sell it on the province at government fixed price, because of emerging higher price of Rs 32,000 to 34,000 in open market in Punjab two month ago, said a senior official.
The sources said the province will now pay additional Rs 8,000 wheat per ton including transportation and loading and unloading expenses. The revised estimates cost of procurement of wheat per tonne is set at Rs 43,000 per ton, which would be additional burden on the provincial exchequer of Rs 3billion, the sources added. The official informed that the KP government and food authorities are compelled to purchase wheat from Passco, after missing target of 400,000 tonne wheat from purchase of local farmers in current season. Of the total set target of procurement in KP, the official said the authorities were able to procure only 23,500 tonne.
The official blamed that the wheat prices were gone up due to manipulation of Punjab, as the provincial food department has been compelled to get wheat at higher prices against the rate in open market. Despite the negotiation with authorities at Federal level, he said the wheat being sold out at higher cost against the earlier commitment by the PASSCO.
The official said the releases have been opened after arrival of 38,600 tons of wheat, out of the total 100,000 tons from Pakistan Agriculture Storage and Services Corporation under initial phase of the deal. "We are issuing around 1,500 per ton on daily basis to entire province, while the demand is much higher around 6,000 ton per day, the official informed. He added that the KP has low productivity and availability of wheat in required quantity, is making difficult to fulfil the food commodity demand on daily basis. Its total annual wheat consumption requirement is 3.9 million tons, showing a shortage of 2.9 million tons for which it heavily relied on supplies of wheat flour from Punjab, sources added.
http://www.brecorder.com/agricultur...ear-the-brunt-of-additional-rs-three-billion/
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