Govt approves import of 450,000 tonnes wheat from Russia

Russian wheat will be purchased on a government-to-government basis in February to March period, says finance ministry

ISLAMABAD:

Finance ministry said on Monday it approved the import of 450,000 tonnes of wheat from Russia ahead of the next crop season, which might be delayed because of the impact of floods this year.

The Russian wheat will be purchased on a government-to-government basis in the February to March period, the ministry said in a statement.

It said the ministry’s Economic Coordination Committee (ECC), which met under Finance Minister Ishaq Dar, approved the offer from the Russian state firm Prodintorg at $372 per tonne.

Under an award given earlier, the ECC also approved the lowest bid from M/s Cereal Crop Trading LLC at a rate of $372 per tonne for supply of 130,000 tonnes at Karachi port for the shipment period from Dec. 16, 2022, to Feb. 8, 2023.

Read more: Russia to provide fuel to Pakistan at discounted rates

It did not say from where the wheat would be imported.

Devastating floods hit Pakistan in July and August causing losses of more than 30 billion and badly damaging four million acres of standing and stored crops.

Fields in large parts of southern Pakistan were waterlogged for many weeks.

Also read: Low wheat output, high expenses

Earlier in the day, State Minister for Petroleum Musadik Malik revealed that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates.

Earlier this month, Finance Minister Ishaq Dar had indicated that Pakistan overcame the United States' opposition to the purchase of Russian oil and stressed that Islamabad intended to enter into the fuel import deal with Moscow on terms similar to those agreed by New Delhi.

Last week, Malik and the petroleum secretary flew to Russia for talks on issues including oil and gas supplies, two people close to the matter told Reuters on condition of anonymity.