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Wheat exports to generate foreign exchange: Muzzammil

Karachi, March 19, 2019: Ahead of a bumper crop, exports of wheat and wheat products are freely allowed without any restrictions through sea route.

Cereal Association of Pakistan (CAP) has denied the rumors of ban on the wheat and its allied products. Muzzammil R. Chappal chairman CAP has said that Prime Minister Imran Khan has confirmed that Pakistan will have a bumper wheat crop this year, therefore the export of wheat and wheat products will continue to offload previous stocks.

He informed that wheat harvesting has already begun and as per estimates an increase of 5-10 mounds per acre is expected in wheat yields in Sindh to timely winter rains and beneficial weather.

As per ministry of commerce export policy order currently in force, export of wheat and wheat flour is allowed and already being exported without any subsidy and/or freight rebate from government.

During the month of February 2019 alone, 53,128 metric tons wheat and 53,727 metric tons wheat flour was exported from Pakistan from the government and private/open market stocks. These volumes are expected to grow substantially in the next few months, he added.

In order to facilitate and encourage the private sector to play its role in enhancing exports without any undue burden on the national exchequer in the shape of subsidies or freight rebate, exports of wheat and wheat products are allowed freely without any restrictions through sea route from Karachi port and Port Qasim, Chappal said.

He said that with IMF settlement and devaluation imminent and a bumper wheat crop, commercial exports of surplus wheat and Wheat Flour will continue to become more viable and all the private sector wish to play their part to achieve the government overall export enhancement plan.

 

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