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ISLAMABAD: The Finance Ministry announced on Monday that it has authorized the import of 450,000 tonnes of wheat from Russia in advance of the upcoming growing season, which may be postponed due to the effects of this year’s floods.
According to a statement from the ministry, the Russian wheat will be bought on a government-to-government basis during the months of February and March.
The offer from the Russian state corporation Prodintorg at $372 per tonne was authorized, according to the statement, during a meeting of the ministry’s Economic Coordination Committee (ECC) held under Finance Minister Ishaq Dar.
The ECC also accepted the lowest proposal from M/s Cereal Crop Trading LLC for the supply of 130,000 tonnes to Karachi port for the shipment period from December 16, 2022, to February 8, 2023, at a rate of $372 per tonne under an earlier award.
Where the wheat will be imported was not specified.
In July and August, Pakistan was devastated by floods that resulted in losses of more than 30 billion dollars and severe damage to four million acres of stored and standing crops. For several weeks, fields in a sizable portion of southern Pakistan were flooded.
