Pakistan govt decides to import 4 metric tons of wheat
ANI
05 May 2021, 04:19 GMT+10
Islamabad [Pakistan], May 4 (ANI): Pakistan government on Monday decided to import four million metric tons of wheat this year to meet the domestic consumption requirements.
According to The Express Tribune, Finance Minister Shaukat Tarin asked the Pakistan Bureau of Statistics (PBS) to change its price methodology as he believed that the prices of essential commodities were over-reported, officials of the Ministry of Finance and PBS said.
The PBS is under pressure as the government had not been able to control wheat, wheat flour and sugar prices that doubled in less than three years. Headed by Tarin, the National Price Monitoring Committee (NPMC) took the decision to import four million metric tons of wheat.
Top Story
May 4, 2021
ISLAMABAD: Federal Minister for Finance Shaukat Tarin has directed the Pakistan Bureau of Statistics (PBS) to ensure data collection for prevailing prices of different commodities from Ramazan Saasta/Saulahat Bazaar for wide coverage.
This directive has created an awkward situation for the PBS because it was mandated to collect the prices under defined methodology finalised through rebasing exercise and any change in methodology would distort the whole data of collection process for calculating inflation figures.
Although, the PBS officials are tight-lipped and no one was ready to say anything on the record, insiders say that the PBS was left with no other option but to refer this issue towards its high-powered technical committee and then go back to the National Price Monitoring Committee (NPMC) with its response in line with the recommendations finalised by this technical committee on how the directives of the finance minister could be incorporated for da
Govt decides to import 4m MT of wheat
NPMC says a whopping $1.2b will be required for the task
Ministry of Commerce told the committee that TCP had imported 100,000 tons of wheat while Passco imported 460,000 tons. PHOTO: FILE
ISLAMABAD:
The government on Monday decided to import four million metric tons of wheat this year to meet the domestic consumption requirements and again “hard-pressed” the national data collecting agency to reconsider its inflation calculation methodology. Finance Minister Shaukat Tarin again asked the Pakistan Bureau of Statistics (PBS) to change its price methodology as he believed that the prices of essential commodities were over-reported, officials of the Ministry of Finance and PBS told The Express Tribune.
ISLAMABAD: The government has planned to import wheat to ensure its steady supply during the current year, a food ministry official said on Monday, as the agriculture-based economy is still.
National
May 4, 2021
ISLAMABAD: Federal Minister for Finance Shaukat Tarin has directed the Pakistan Bureau of Statistics (PBS) to ensure data collection for prevailing prices of different commodities from Ramazan Saasta/Saulahat Bazaar for wide coverage.
This directive has created an awkward situation for the PBS because it was mandated to collect the prices under defined methodology finalised through rebasing exercise and any change in methodology would distort the whole data of collection process for calculating inflation figures.
Although, the PBS officials are tight-lipped and no one was ready to say anything on the record, insiders say that the PBS was left with no other option but to refer this issue towards its high-powered technical committee and then go back to the National Price Monitoring Committee (NPMC) with its response in line with the recommendations finalised by this technical committee on how the directives of the finance minister could be incorporated for dat