Private sector to import 900,000 tons of wheat

LAHORE: To address wheat shortages, the private sector has procured 400,000 metric tons of wheat from Russia.

A shipment of 55,000 tons, the first consignment of this privately acquired wheat, has commenced its journey from Russia to Pakistan. It is anticipated to reach Karachi Port on September 8.

A subsequent shipment is scheduled to arrive on September 14.

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The total wheat purchases by importers currently stand at 400,000 metric tons.

The private sector aims to import over 900,000 metric tons, with a significant portion destined for Karachi.

Wheat supplies to flour mills in the city are constrained, leading to price fluctuations. Despite attempts by speculative market players within the flour industry to obstruct private sector wheat imports, these efforts have proven unsuccessful.

Intelligence agencies have initiated the compilation of a roster of flour mills and stockholders in Rahim Yar Khan and Bahawalnagar, suspected of engaging in unlawful wheat trading.

Incriminating evidence has been uncovered against certain entities thus far.