ISLAMABAD              -       Pakistan People’s Party yesterday criticised the Economic Coordination Committee’s decision to give subsidy to wheat importers in the private sector.

President PPP Sindh Mr. Nisar Ahmed Khuhro and Member PPP Core Committee Taj Haider, in a joint statement condemned the ECC decision. This government, the statement said, has made it a practice to create a crisis and then make policies ensuring windfall profits for its henchmen in the name of resolving the crisis. Limitless imports of wheat by the private sector had already been allowed, together with waiver of total 68% in import duties and now subsidies on import of wheat are being indicated for enhancing the windfall profit margins for the importers and smugglers, while prices of wheat flour in Karachi today have touched the level of Rs. 75 per Kg, it added. The UN Food and Agricultural Organisation on its Food Price Monitoring and Analysis (FPMA) page has given 14/07/2020 fob prices of US wheat as 216 dollars per ton.

Their headline on the page states that “Wheat export prices continued to decline”. One can add another maximum 25 dollars per ton as the freight from US to Karachi and the import prices come to $241 or Rs 40,000 per ton. With the present market prices in Pakistan hovering between 65,000 to 70,000 rupees per ton one can easily calculate the enormous profits that the importers and smugglers stand to make.

The two PPP leaders said that notwithstanding the loud and hollow proclamation of this mega corrupt government for taking action against hoarding, it is futile to expect that the wheat and flour prices will come down after importing wheat through private sector. Those who have hoarded the wheat purchased from the local market under the umbrella of this government shall hoard the imported wheat as well till our agriculture sector is completely destroyed.

The PPP leaders said that usually media statements end with demands from the government. In the present chaotic situation only one demand can be made which is that the selected rulers should resign and go home so that an elected government gets the opportunity to undo the damage that has been done during the last two years.