Country’s Wheat Reserves Stand at 69.34 Thousand Tons
The Federal Ministry of Food Security and Research has confirmed abundant wheat reserves in the country.
Islamabad: Both the PASSCO (Pakistan Agricultural Storage and Services Corporation) and provincial food departments have a stock of 69 lakh 34 thousand tons, which is sufficient for the country’s needs until May 2024, as the new crop begins arriving by the end of March.
Furthermore, the private sector has procured over 7 lakh tons of wheat, with an additional 12 lakh tons expected to be acquired. Wheat is being sold at prices ranging from 4400 to 4300 rupees, down from 4800 rupees. This potential reduction in cost is expected to benefit the common man’s purchasing power.
What is PASSCO?
PASCO, or the Pakistan Agricultural Storage and Services Corporation, is a government-owned entity in Pakistan responsible for various aspects of agricultural storage and related services. Its primary function is to ensure food security in the country by procuring, storing, and distributing agricultural commodities such as wheat, rice, and other staples.
PASCO plays a crucial role in managing grain reserves, stabilizing prices, and ensuring a consistent supply of essential food items in Pakistan. It operates a network of storage facilities and is involved in the procurement and distribution of grains to support the country’s food security needs.