November 21, 2008	Friday	Ziqa'ad 22, 1429

ISLAMABAD, Nov 20: The Economy Monitoring Committee allowed provinces on Thursday to lift imported wheat directly from ports to save time and ease supplies to far-flung areas.

The committee, which met under the chairmanship of Adviser to the Prime Minister on Finance Shaukat Tarin, directed the ministry of food and agriculture to act as an “equaliser in judicious distribution” of wheat stocks to the provinces.

The agriculture ministry informed the meeting that 45 vessels had offloaded 1.7 million tons of wheat at ports and its upcountry transportation had started. It said the country’s current wheat stock was 2.067 million tons and the position in Punjab was comfortable.

Orders for procurement of 500,000 tons of wheat had been placed and an adequate quantity was being released from provincial stocks to mills for uninterrupted supply of flour in the market, the ministry said.

The meeting was told that the Utility Stores Corporation was supplying wheat from the stocks of the Trading Corporation of Pakistan and Pakistan Agricultural Supplies and Storage Corporation to provinces. The average monthly sale of wheat from USC outlets was 50,000 tons.

Mr Tarin directed the ministry of ports and shipping to complete its homework in consultation with other stakeholders to put in use Gwadar Port for import of urea and wheat and export of surplus production of cement and other items as it would save freight cost.

The food ministry informed the committee that 6.54 million tons of rice was available in the market, with exportable surplus of four million tons. Mr Tarin directed the commerce ministry to prepare a plan for rice export.

The USC management informed the committee that they had reduced ghee and oil prices between five and 35 per cent following decline in their prices in open market. The agriculture ministry said that it would procure 700,000 tons of urea to meet local demand for 45 days.