Import of wheat from Russia at $390 per metric ton otherwise the tender will be cancelled, ECC
Islamabad: The Economic Coordination Committee has proposed to import one hundred and twenty thousand metric tons of wheat at the rate of $399.50 per metric ton.
The Economic Coordination Committee meeting of the Cabinet was held on Friday under the chairmanship of Finance Minister Miftah Ismail, in which Federal Minister Khuram Dastgir, Tariq Fatemi, Minister of State Mossadegh Malik, Special Assistant Jahanzeb Khan, Coordinator Economy Bilal Azhar Kayani, Federal Secretaries and senior officers participated.
In the meeting, the Ministry of National Food Security and Research presented a summary of the supply of wheat from Russia on a G-to-G basis, in which it was stated that the Federal Cabinet has decided on ECC to import 3 MMT of wheat on May 28, 2022. Confirmed.
TCP started the process of importing wheat from Russia on G2G basis. In this context, an MoU was signed between Russian SOE and TCP on June 8, 2022. Price offered at $410 per metric ton, a committee headed by Prime Minister’s Adviser on Foreign Affairs Tariq Fatemi was formed to negotiate with the Russian Embassy on the price of imported wheat.
Meanwhile, the Russian delegation met the Commerce Minister and offered to reduce the price of wheat to $405 per metric ton, which was later further reduced to $400 per metric ton.
