Punjab favours increase in wheat support price

LAHORE: The Punjab government favours increase in the minimum support price of wheat. Keeping in view the hike in prices of farm inputs, there is a need to revise wheat support price with a view to ensuring food security in the country, said Punjab Agriculture Minister Malik Nauman Langrial while talking to a group of journalists.

He said the cost of almost all farm inputs had increased after around 25 per cent devaluation of rupee against dollar coupled with other factors. “Hence, we feel that the minimum support price should be set at Rs1,400 per 40kg against the current rate of Rs1,300 per 40kg,” he said.

The agriculture minister said the federal government had yet to be agreed on this proposal. The minister hinted that procurement quantity of wheat could be reduced to two million which required less funds, hence, there would be no need of extra funds for that purpose.