The Economic Coordination Committee (ECC) of the Cabinet on Monday accepted offers for the import of almost 950,000 metric tonnes of wheat, including 450,000 metric tonnes from Russia, at the same rate of $372 per tonne.
With this, Russia has become the single largest wheat supplier to Pakistan this year, bringing total quantities to 750,000 metric tonnes.
The meeting of the ECC, presided over by Finance Minister Ishaq Dar, also approved the change of the title of the revolving fund account for CPEC Independent Power Producers from “Pakistan Energy Revolving Fund” to “Pakistan Energy Revolving Account” to satisfy Chinese financial institutions as required under the CPEC framework agreement.
Regarding the import of wheat, the Ministry of National Food Security and Research reported the results of the 7th international wheat tender opened on November 30 and an offer from a Russian entity on a G2G basis.
“Keeping in view the results of the tender and G2G offer, the ECC approved the lowest bid from M/s Cereal Crop Trading LLC at the rate of $372 per tonne” for the supply of 130,000 tonnes at Karachi ports for the shipment period from Dec. 16 to Feb. 8, 2023,” an official statement said.