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November 19, 2019

Support price

Newspost

 
November 19, 2019

Wheat is the most important staple food crop of Pakistan. Although grown on a large area, there have been crises of crop shortages in the past whenever the support prices fixed were not considered profitable by the farmers.

The Economic Coordination Committee (ECC) of the cabinet in its meeting held under the chairmanship of the adviser to the PM on finance and revenue on November 13, 2019 decided to increase the minimum support price of wheat from the current Rs1300/- to Rs1350/- per 40 kg after keeping the rate unchanged for the last five years in a move to help farmers meet the escalating cost of agricultural inputs. It merits a mention that the minimum support price for wheat had not been enhanced for the last five years. It is to be added that the cost of production has been increased to Rs1349.57/40 kg in Punjab and Rs1315.72/40 kg in Sindh as per the findings of the Agriculture Policy Institute. However, the increase allowed by the ECC in the support price of wheat after five years appears to be low keeping in view the exorbitant increase in agricultural inputs. Also, it was not economical for farmers to continue with the production of this staple food commodity.

Khan Faraz

Peshawar

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