ECC decision to allow private sector to import wheat lauded

ISLAMABAD: President Pakistan Businessmen and Intellectuals Forum and FPCCI’s Businessmen Panel Sr. Vice Chairman Mian Zahid Hussain on Friday lauded the decision of the ECC to allow the private sector to import wheat.

The decision will tackle shortages, discourage hoarders and stabilize prices to provide relief to the masses, he said.

Mian Zahid Hussain said that the decision was delayed unnecessarily and warnings from stakeholders were ignored otherwise mafia would not have been able to exploit poor masses.

Talking to the business community, he said the wheat production is almost 25 million tonnes while the requirement is around 27.5 million tonnes which should be bridged through imports immediately as price in the international market is favorable.

He noted that an eye should be kept on the supply and demand situation so that government departments could intervene if negative forces come into play.

He said that many people have hoarded wheat in anticipation of high prices and some farmers are not selling wheat for extra money which is resulting in price fluctuation.

The business leader noted that administrative actions like raiding and sealing flour mills, arresting millers, impounding their vehicles should not be repeated as it will not help improve the situation.

He said that rains, locust and other issues have damaged the agriculture sector which should be helped stand on its feet.