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Food department and Passco start wheat
procurement in Punjab
LAHORE (April 11 2004): Punjab Food Department and
Pakistan Agricultural Storage & Services
Corporation (Passco) on Saturday began the
procurement of wheat in the Punjab province.
Both the organisations have plans to procure a
total of 4.72 million tonnes of wheat from the
province this year.
Of this quantity, Punjab Food Department will
procure 3.5 million tonnes of wheat, followed by
Passco with a target of 1.22 million tonnes.
The food department had set up 308 wheat
procurement centres across the Punjab province.
There will be no restriction on the inter-district
movement of the wheat in the Punjab province and
the presence of more than one buyer in the market
is likely to keep the prices stable. Meanwhile,
Passco will procure 1.22 million tonnes of wheat
from 15 districts (44 tehsils) of the Punjab
province.
The State Bank of Pakistan (SBP) has provided a
credit line of Rs 22 billion at the very
reasonable mark-up rate of 1.74 percent to help
this federal body procure wheat from the provinces
of Punjab, Sindh and Balochistan.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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