ISLAMABAD - Federal Minister for Water and Power Syed Naveed Qamar has asked Passco to finalise the modalities for export of one million tons of wheat to Iran on the basis of talks held at Tehran between Pakistani and Iranian authorities last month.

He made these directions while presiding over a meeting of sub-committee of ECC constituted for export of surplus wheat to Iran held here today. Minister for National Food Security, Secretary Food Security, MD Passco and senior officials of commerce and other attended the meeting.

The Minister stated that it has been decided in principle that one million tons of surplus wheat from Passco stocks and rice will be exported to Iran on barter trade arrangement. Iran has expressed its desire to import both the items from Pakistan and in exchange urea will be imported from there.

He was of the view that modalities should be finalised at the earliest so that first tranche may be exported and urea imported. Timely import of urea from Iran will benefit farmers as Kharif season starting shortly.

Earlier, Secretary National Food Security, Shafqat Naghmi briefed the meeting on details of their meeting with Iranian authorities held last month and stated that the wheat would be exported and urea would be imported via sea route. Pakistan will import urea quantity against total price of wheat to be exported to Iran. He informed that Iran is keen to import first tranche of wheat in May.

The Minister Water and Power said that formal approval will be taken from ECC next week in this regard to export commodity.