Chief Minister Sindh Syed Qaim Ali Shah presided a meeting regarding releases of wheat crop 2011 at Chief Minister House here on Friday. Chief Minister Sindh discussed the wheat position in the province together with supply of Wheat (Atta) on subsidised rate to poor people during the holy month of Ramadan. Sindh Food Minister and Secretary Food Sindh in their presentation informed the Chief Minister Sindh that the provincial food department has almost achieved its target of procurement of wheat, and as on June 30, 2011, the department procured 1.403 million metric tonnes of wheat, against the target of 1.5 MMT.
They informed that the department has 1.523 MMT wheat stocks, which are sufficient for the province to cater to the annual requirement. Regarding the current position, the meeting was informed that the Government Issue price is Rs2550 per bag and the open market prices are slightly higher by Rs100 per bag and there is pressure on government stocks. The chakki-owners of Hyderabad region have also demanded the releases of wheat in the district, due to high price of wheat in open market, they added.
They further said that the government is expected to sustain a loss of Rs4058.870 million on the stocks of 1.2 MMT depending upon market rates which are however, fluctuating. Any increase in price will definitely enhance wheat prices in the region, they said. Chief Minister Sindh approved that present subsidised rate of Rs975 per 40 kg will be continued and in case of a wheat price increase in the market, the subdised rate may be enhanced in consultation with the Finance Department.
