Punjab taps PMEX for wheat e-receipt trading under new financing facility

LAHORE: The Punjab government has formally designated the Pakistan Mercantile Exchange (PMEX) as the trading platform for Electronic Warehouse Receipts (EWRs) for wheat under the Chief Minister Punjab EWR Financing Facility.

Marking a significant development for Pakistan’s agricultural economy, the initiative allows wheat stored in accredited warehouses to be traded via PMEX’s electronic platform. This will provide farmers, traders and investors with access to competitive pricing, liquidity and secure digital transactions, all accessible via mobile phones.

“We are honoured to support the government of Punjab in this transformative step,” said Khurram Zafar, CEO of PMEX. “Our state-of-the-art platform will ensure farmers and traders benefit from real-time price discovery, transparency, and trust -- the essential components of a robust agricultural trading ecosystem.”

EWRs serve as digital proof of commodity ownership, issued by licensed warehouses and supported by a comprehensive ecosystem of collateral management companies, accredited warehouse operators, and banks. The system bridges post-harvest market gaps, reduces distress selling and integrates farmers into the formal financial sector by connecting them with a transparent, SECP-regulated trading platform that facilitates nationwide price discovery.This initiative aligns with the broader objective of modernising agricultural markets and promoting financial inclusion in rural economies, as envisioned by the Punjab government of Punjab, the Securities and Exchange Commission of Pakistan (SECP), and the State Bank of Pakistan (SBP).