Govt allows costly wheat import

[s.shahid]

July 20

To begin with July 2020 to march 2021 is 9 months, that's not a complete fiscal year. Palm oil is Pakistans largest food import item with around 33 percent share in imported food items. Average price per metric ton in fy 2017- 2018 was $710 and for the fiscal year 2020-2021, it was $937.

Palm oil - Monthly Price - Commodity Prices - Price Charts, Data, and News - IndexMundi

www.indexmundi.com

Will get back with other food items too, will take time to dig in. Some other points to consider as well,

1. Pakistan population growth rate is amongst the highest in the world, hence demand is increasing at a rate of over 3% per annum, which will naturally raise import bill for imported items.
2. Before there was lot of under invoicing and smuggling hence the official import bill would naturally be lower if actual imports are under invoiced or smuggled. With curbs on under invoicing and smuggling offical figures are bound to be higher.
3. Inward freight and shipping in 2017-2018 was much lower than in 2020-2021 due to higher average fuel and shipping charges.

4. Add on top of that higher import due to locust attack in 2020.

 

[Munawarkhan]

article by Shahbaz Rana, naam hi kaafi hai.

ISLAMABAD:
The government on Thursday allowed importing wheat at $383.50 per metric ton or Rs65 per kilogram – the highest price ever paid by the country – but scrapped a sugar import tender due to the same reason.

The Economic Coordination Committee (ECC) of the cabinet, which took these decisions, also cleared the scaled-back Kamyab Pakistan Programme amid few committee members’ concerns over missing some critical details from the summary.

Against the original plan of Rs815 billion programme for two years, the finance ministry presented Rs228 billion programme for fiscal year 2021-22 and 2022-23 –the last two years of the Pakistan Tehreek-e-Insaf (PTI) government. The subsidies were shown at Rs37 billion to give loans to just one million borrowers.

Wheat import

“The ECC accorded approval for the lowest bid received for award of fourth international wheat tender for the FY 2021-22 to import 120,000 MT of wheat,” the Ministry of Finance stated after the ECC meeting.

A senior government official told The Express Tribune that the lowest bid was $383.50 per metric ton or Rs65 per kg at today’s exchange rate. The last tender had been signed at $356 per ton or Rs61 per kg. The 40kg import price will be roughly Rs2,600, which is far higher than the release price of Rs1,950 that Prime Minister Imran Khan approved for issuing wheat to flour mills.

The federal government has decided to import four million metric tons of wheat to meet domestic shortfall and build some strategic reserves. However, so far, all four tenders have remained under subscribed and prices ranged from $244 of first tender to roughly $384 per metric ton of the latest tender.

The special assistant to the prime minister on national food security claimed on Wednesday that except the poorest people everyone else would get wheat flour at Rs55 per kg. But at Rs65 wheat price, the government will have to give huge subsidies.

Sugar import

The ECC approved scrapping a 50,000 metric tons sugar import tender after a Geneva-based bidder gave $670 per metric ton price, which was the highest price or could have cost per kg at Rs113. The government had approved the last tender for 200,000 metric tons of sugar import at around $637 per metric tons that translated into Rs106 per kilogram.

Read More: ECC may give nod to 40,000 tons wheat purchase

Instead, the ECC directed that to issue fresh three separate tenders of 50,000 metric tons each so that there is more participation and increased competition when international prices fall down.

An official of the Ministry of Industries said that sufficient sugar stocks of 715,000 metric tons were available in the country. In addition to that, 200,000 metric imported sugar was being loaded in ships that will reach Pakistan soon.

The federal government had decided to import 600,000 metric tons of sugar, out of which approval for 300,000 metric tons import has already been given.

The ECC emphasised to ensure a smooth supply of sugar throughout the country and directed to initiate crushing by sugar mills in the beginning of November, 2021 as done last year, said the finance ministry.

Kamyab Pakistan Programme

The Finance Division presented an updated summary regarding Kamyab Pakistan Program (KPP) before ECC on Thursday, according to the press release.

A senior finance ministry official said that the government has now reduced the plan to just Rs90 billion loans to be disbursed among 301,500 borrowers in this fiscal year and another Rs138 billion in next fiscal year among over 738,000 borrowers. The subsidies in the first year were Rs5.6 billion and Rs31.4 billion in the second year, he added.

A participant of the meeting said that the finance ministry did not have the data about the numbers of districts that it had finally picked for targeting, therefore, the amount of subsidies, loans and beneficiaries were tentative and will be firmed up further.

Finance Minister Shaukat Tarin had vowed to launch the largest-ever program in the history of Pakistan to disburse interest-free to cheapest loans among 30 million people in three years. However, his ambitions were watered down by the International Monetary Fund (IMF) and the bureaucracy of the finance ministry.

The finance ministry handout stated that the “programme has been streamlined in consultation with stakeholders to disburse microcredit for uplifting marginalised segments of the society.”

Under the first three components, micro-loans shall be disbursed amongst eligible persons registered with Ehsaas Data through National Socio-Economic Registry (NSER) who have family income of up to Rs50,000 per month.

Published in The Express Tribune, September 24th, 2021.

 

[Pathfinder]

Okara
s.shahid

? ? ? ? ?

 

[Munawarkhan]

As head of NCOC, the world praised Pakistan on handling COVID crisis.
but jalan will not let you praise him.

O Come on man at least remove this person's (Asad Umar) picture from your ID
He is the NAALAEQ TAREEEN insaan in IKs squad. It makes you look stupid as well.

 

[Malik_007]

Sorry I missed that thread. Please share it.

https://siasat.pk/forums/threads/تمام-دوائیاں-غریبوں-کی-پہنچ-سے-دور-رکھیں.798183/#post-6229574

Please check the original price on different online stores for this medicine.

 

[Keep the trust]

First time in history Pakistan to import 80% wheat ever in Pakistan. This is a shame and incompetence that a honest person is worse than criminal in Pakistan. This is a shame and shocking.

No where on earth a criminal is better than incompetent or honest person, it shows ,for you crimes doesn’t matter. It’s a shame.

 

[RajaRawal111]

article by Shahbaz Rana, naam hi kaafi hai.

Munawar Khan this is your favorite sentence now. Just a few days ago you said the same thing about SB injecting money to control the falling rupee. Then same thing about news of downgrading Kamyab Pakistan Program.
I asked you to find me the rebuttal from Dog Fawad Chaudhary. And you were lost.

 

[RajaRawal111]

As head of NCOC, the world praised Pakistan on handling COVID crisis.
but jalan will not let you praise him.

اوے ہوے اس نے فائنانس منسٹر نہیں ہونا تھا ؟؟
گلی میں جھاڑو پھیروا لو اس سے وہ بھی اچھی پھیر دے گا - تمہاری تصلی کے مطابق

 

[Resilient]

Rajarawal111 Sahib
From which country to import cheaper wheat?
Also is this first time GOP imported wheat?

This is not about country , this is about timing. Delay the decision another month you will buy wheat at much higher price. Government made the decision 4 months ago but purchased after 4 month. Who to blame??

 

[Okara]

This is not about country , this is about timing. Delay the decision another month you will buy wheat at much higher price. Government made the decision 4 months ago but purchased after 4 month. Who to blame??

Can u give guarantee that if I buy something today its price will not drop tomorrow?
Like when oil drops to USD30 per barrel did u buy stocks of any Oil company that USD30 per barrel is rock bottom?
My Dear friend look at the international wheat prices during 2013 2014 and 2015. Every year wheat prices were dropping so what was best time to buy during that time?

 

[s.shahid]

July 20

To begin with July 2020 to march 2021 is 9 months, that's not a complete fiscal year. Palm oil is Pakistans largest food import item with around 33 percent share in imported food items. Average price per metric ton in fy 2017- 2018 was $710 and for the fiscal year 2020-2021, it was $937.

Palm oil - Monthly Price - Commodity Prices - Price Charts, Data, and News - IndexMundi

www.indexmundi.com

Will get back with other food items too, will take time to dig in. Some other points to consider as well,

1. Pakistan population growth rate is amongst the highest in the world, hence demand is increasing at a rate of over 3% per annum, which will naturally raise import bill for imported items.
2. Before there was lot of under invoicing and smuggling hence the official import bill would naturally be lower if actual imports are under invoiced or smuggled. With curbs on under invoicing and smuggling offical figures are bound to be higher.
3. Inward freight and shipping in 2017-2018 was much lower than in 2020-2021 due to higher average fuel and shipping charges.

Average Wheat Price for the FY 2017-2018 was $162 per bushel and for the FY 2020-2021 it was $221 per bushel, that's an increase of 36%

Wheat - Monthly Price - Commodity Prices - Price Charts, Data, and News - IndexMundi

www.indexmundi.com

Increase in Palm Oil price was 32% for the year 2020-2021 as compared to 2017-2018.

 

[Munawarkhan]

First thing, you know that if you call someone a dog, he doesn’t become one.

Second whatever Shabaz Rana writes will happen, doesn’t actually happen.
Reserves if injected gets depleted, not grow. In last 3 months the reserves grew by about 2 Billion. Shame on Shahbaz Rana for making up stuff that he doesn’t fully understand

Munawar Khan this is your favorite sentence now. Just a few days ago you said the same thing about SB injecting money to control the falling rupee. Then same thing about news of downgrading Kamyab Pakistan Program.
I asked you to find me the rebuttal from Dog Fawad Chaudhary. And you were lost.

 

[Munawarkhan]

Maybe we couldn’t have a better Minister of Planning. it’s about time that we understand every ministry is equally important, and should be treated same.

اوے ہوے اس نے فائنانس منسٹر نہیں ہونا تھا ؟؟
گلی میں جھاڑو پھیروا لو اس سے وہ بھی اچھی پھیر دے گا - تمہاری تصلی کے مطابق

 

[RajaRawal111]

Maybe we couldn’t have a better Minister of Planning. it’s about time that we understand every ministry is equally important, and should be treated same.

بچپن میں کہانی تو سنی ہی ہو گی نا کہ سارے کے سارے منور خان اس مخمصے میں تھے کہ بادشاہ نے بہت عمدہ کپڑے پہنے ہوے ہیں -- ایک چھوٹا سا راجہ راول بھی وہاں کھڑا تھا اس نے کہا "یہ بادشاہ تو ننگا ہے" - شروع شروع میں سارے منور خانوں کے راجے کی بہت ڈانٹ ڈپٹ کی تھی

یہ اسد عمر اتنا نالائق ہے اتنا نالائق ہے کہ اب عمران خان جیسا نالائق انسان بھی اس کو اسی قابل سمجھاتا ہے کہ توں بیٹھ کر علان کرتا رہ کہ آج اتنے لوگوں نے ٹیکا لگوا لیا ہے - دوسری لہر تیسری لہر آ گی ہے وغیرہ وغیرہ

 

[RajaRawal111]

First thing, you know that if you call someone a dog, he doesn’t become one.

Second whatever Shabaz Rana writes will happen, doesn’t actually happen.
Reserves if injected gets depleted, not grow. In last 3 months the reserves grew by about 2 Billion. Shame on Shahbaz Rana for making up stuff that he doesn’t fully understand

The appointed dogs start barking soon as something or appears on the net which is not correct. This is they are best at. But for you it is kind of same thing "Munawar khan will do everything to not accept that Badsha is Nunga".

Here it is your same Nalaeq Tareen insan Asad Umar on the subject of SB intervention

گھوٹکی میں فائرنگ سے ایک شخص جاں بحق اور خاتون زخمی

www.samaa.tv

And Ghazab Khuda ka it is back at the same worst situation

 

[Munawarkhan]

appointed dog barking, parh bhi lena tha article.

“I do not know if any intervention occurred or if it did not, what was its value or why the central bank moved to intervene … I have no information in this regard,” Asad Umar said responding to questions during a meeting of the Senate standing committee on planning.

The appointed dogs start barking soon as something or appears on the net which is not correct. This is they are best at. But for you it is kind of same thing "Munawar khan will do everything to not accept that Badsha is Nunga".

Here it is your same Nalaeq Tareen insan Asad Umar on the subject of SB intervention

گھوٹکی میں فائرنگ سے ایک شخص جاں بحق اور خاتون زخمی

www.samaa.tv

And Ghazab Khuda ka it is back at the same worst situation

 

[Munawarkhan]

OR.

He's such genius and so efficiently handled the pandemic crisis, that Pakistan defeated every wave efficiently, where developed European countries failed. Now our awaam doesn't even realise how deadly this pandemic was.

بچپن میں کہانی تو سنی ہی ہو گی نا کہ سارے کے سارے منور خان اس مخمصے میں تھے کہ بادشاہ نے بہت عمدہ کپڑے پہنے ہوے ہیں -- ایک چھوٹا سا راجہ راول بھی وہاں کھڑا تھا اس نے کہا "یہ بادشاہ تو ننگا ہے" - شروع شروع میں سارے منور خانوں کے راجے کی بہت ڈانٹ ڈپٹ کی تھی

یہ اسد عمر اتنا نالائق ہے اتنا نالائق ہے کہ اب عمران خان جیسا نالائق انسان بھی اس کو اسی قابل سمجھاتا ہے کہ توں بیٹھ کر علان کرتا رہ کہ آج اتنے لوگوں نے ٹیکا لگوا لیا ہے - دوسری لہر تیسری لہر آ گی ہے وغیرہ وغیرہ

 

[RajaRawal111]

appointed dog barking, parh bhi lena tha article.

“I do not know if any intervention occurred or if it did not, what was its value or why the central bank moved to intervene … I have no information in this regard,” Asad Umar said responding to questions during a meeting of the Senate standing committee on planning.

O Yes -- If you don't know then it does not exist
Sorry I forgot about that Phenomenon

 

[arifkarim]

This is not about country , this is about timing. Delay the decision another month you will buy wheat at much higher price. Government made the decision 4 months ago but purchased after 4 month. Who to blame??

Why can't we buy wheat for 2050 today? It will be much cheaper

 

[RajaRawal111]

OR.

He's such genius and so efficiently handled the pandemic crisis, that Pakistan defeated every wave efficiently, where developed European countries failed. Now our awaam doesn't even realise how deadly this pandemic was.

O Come on now Munawar Khan, Who the hell is handling the waves in Afghanistan. One Afghani once said it will kill us if we are spared from Bullets
I think you have not visited Pakistan since this thing appeared. If you had you should have seen how his lockdowns are being treated here.
Or you may have visited but you are being the "legendary Munawar Khan"