ISLAMABAD - Minister for Water and Power said that Pakistan would export wheat to Iran on barter system and iron and urea would be imported in return.

While chairing the meeting of committee on wheat export issues, he said that wheat would be supplied from the stocks of PASSCO as there is ample stock available at the end of season and new crop is about to arrive in the market.

It is pertinent to mention here that ECC had constituted a committee comprising Minister for Water and Power, Minister for Food Security and Research, Deputy Chairman Planning Commission and Secretaries from Commerce, Finance and Food Security and Research to look further into the matter regarding wheat export to Iran.

ECC had also directed to find out best possible deals with Iran. As ECC had given hint about exploring the items that could be imported from Iran, Naveed Qamar seems opted for the option of barter trade of wheat against iron and urea fertilizer that is short in the country these days due to gas shortage.

The government is planning to export 0.45 million tons of wheat as the said quantity is approved by ECC. PASCO whereas have a stock of around 1.7 million tons remaining with it at the end of the season.

Ministry of National Food Security is also planning to sell 1 million tons wheat stock to private parties as otherwise it would be difficult for PASCO to procure further stocks from the growers.