ISLAMABAD:
The Ministry of National Food Security and Research has sought 50% regulatory duty on the import of wheat in a bid to discourage the commodity’s purchase from overseas markets in the presence of surplus domestic stock.
“A summary has been sent to the Economic Coordination Committee (ECC) for formal approval,” said a senior officer of the ministry while talking to The Express Tribune.
Previously, there was 25% regulatory duty on the import of wheat, which was recently increased to 40% on the recommendation of the ministry. Now, it has been recommended to further increase the duty to 50% so that wheat import could be discouraged.
“There is a possibility that the ECC will approve the proposal in its upcoming meeting, which will be helpful in limiting or stopping the import of wheat,” said the officer.