March 23, 2009
Pakistan gov't sanctions US$1.4 billion for wheat purchases
The government of Pakistan Friday (Mar 20) sanctioned PKR111 billion (US$1.38 billion) for procurement of wheat for the crop season that starts within the next two months, an official government statement said.
Yousuf Reza Gilani, the "Prime Minister has sanctioned PKR111 billion for the procurement of wheat and asked the Ministry for Food & Agriculture to ensure that farmers get the support price fixed by the government," the statement said.
The government has set a procurement target of 6.5 million tonnes of wheat at PKR950 (US$11.8) per 40 kilogramme.
