March 23, 2007

Pakistan allows private sector to export 300,000 metric tonnes of wheat
 

The government has allowed private entities to export 300,000 metric tonnes of duty free wheat from the Pakistan Agriculture Supply and Storage Corporation's (PASSCO) stock, said the Pakistan Ministry of Food and Agriculture (MINFAL). 

Through a circular circulated by the ministry, the central bank has also allowed the sector to export 500,000 tonnes of wheat, which they will get directly from the growers or the wheat sellers.

The circular said PASSCO, after sealing the agreement with private establishments on wheat exports, will not require an objection certificate (NOC) either from MINFAL or from the ministry of commerce.

The circular also said the formal sale receipt issued by PASSCO would be a sufficient proof for export.

PASSCO requires exporters to strictly adhere to the international buyer's commodity specifications and would present pre-shipment inspection reports to customs authorities at the time of export.

In order to ensure that only 300,000 metric tonnes of wheat are to be exported, the CBR would provide details of shipments to MINFAL on weekly basis starting from the date of export policy order relevant SRO is amended by ministry of commerce to facilitate wheat export

All shipments of wheat export from PASSCO's above stocks must be completed by June 15.