Private company looks to export 0.5m tons

Receiving subsidy proving to be a hindrance for exporters

ISLAMABAD: In a major breakthrough, a private company is planning to export 0.5 million tons of surplus wheat/flour to Afghanistan, but exporters are facing bottlenecks in receiving the subsidy announced by the federal government on disposing of the country’s surplus wheat stock.

Sources said that a private party, ‘Sunny Trading Company’, through the Foreign Office has expressed its willingness to export 500,000 tons of surplus wheat to Afghanistan after getting a formal order from the neighbouring country. The Foreign Office has referred the issue to the concerned ministries including the Ministry of National Food Security and Research and Ministry of Commerce to arrange and facilitate the party in this regard.

An official in the Ministry of National Food Security and Research said the private party had complained that wheat exporters were facing issues in getting the subsidy amount the central bank as per the directives of the Economic Coordination Committee (ECC).

It was learnt that the exporters particularly requested the authorities in the Ministry of National Food Security and Research to take up the issue with the finance division so that the subsidy amount could be disbursed.

“I have to export 3,000 tons of wheat on a daily basis to Afghanistan and I would not have the sufficient cash flow to manage the transactions if the subsidy isn’t provided,” said the exporter. An officer in the Ministry of National Food security and Research feared that the opportunity to dispose the surplus wheat would once again be wasted.

“We have failed in exporting 300,000 tons of wheat since January this year despite all the efforts; this is an opportunity that should not go to waste.”

Published in The Express Tribune, September 1^st, 2015.

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