PASSCO

FIA filed corruption charges in May against three PASSCO officials for embezzling over RS 1Bn.

Applicant accused of wheat bags embezzlement

PM takes stock of wheat procurement under PASSCO

Finance ministry raises objections to cash credit limit for wheat purchase

Mill owners seek procedure for direct procurement from Passco

PM Imran orders countrywide ‘grand operation’ in an attempt to tackle wheat crisis

According to sources, the move also aims to shrink Rs1 billion import bill by increasing local pulses production

Members of flour mills association express concern over worsening situation

Flour mill owners have already paid the full amount to the Sindh govt

Provincial govt has sought 0.4m tonnes of commodity from Passco

Move comes after rise in flour/bread prices apparently due to wheat scarcity

Further Rs30m lost due to loss of interest income, Rs15m overspent on salaries

Over Rs1.2 billion parked without inviting competitive bids

Agriculture project will help end wheat dependency

Aims to avoid inflow of cheap wheat from Kazakhstan, protect farmers

Corporation says it is being forced to take loans at high interest rates

Over Rs30b is to be paid by finance division, payments pending since 2008

Passco has federal strategic reserves of 1.737 million tons of wheat

Has piled up over five years; result of providing subsidised wheat to G-B