Govt considering importing cheaper wheat from Russia

The Economic Coordination Committee (ECC) on Friday decided to buy wheat from Russia if they agree to the price of $390 per tonne, ARY News reported.

The ECC session led by Finance Minister Miftah Ismail decided to import wheat from Russia if they agree upon a price of $399.50 per tonne.

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Ministry of National Food Security and Research submitted a summary on the supply of milling wheat from Russia on government-to-government (G2G) basis.

The PM had formed a committee led by Special Assistant to the Prime Minister on Foreign Affairs Tariq Fatemi to negotiate with the Russian Embassy over the import of wheat.

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The Russian delegation, in their meeting with the Minister for Commerce, offered a reduced price of $405 per tonne which was later dropped to $400 per tonne.

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The Ministry of National Food Security & Research on the recommendations of the Ministry of Commerce proposed a price of $399.50 per tonne for the supply of 120,000 tonnes +/- 5 percent MOLSO of milling wheat through G2G arrangements for the consideration of the ECC of the Cabinet.

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