Thursday marked the day that the first shipment of wheat from Russia to Pakistan landed at the port of Gwadar on board a ship carrying 50,000 metric tons.
In December of the previous year, the Economic Coordination Committee (ECC) of the federal cabinet gave its clearance for the importation of 450,000 metric tons of wheat from Russia.
Wheat Shortage Due To Floods in Pakistan
As deadly floods in Pakistan a year ago washed away standing crops on hundreds of thousands of acres, the approval was provided to import it at a price of 372 dollars per metric ton from February to March. This was done during the time period of February until March.
Pasand Khan Buledi, Chairman of the Gwadar Port Authority (GPA), stated that the first ship to arrive at the port of Gwadar was carrying 50,000 metric.
The remaining 400,000 metric tons that Pakistan requires will be acquired from Russia via the use of eight additional cargo ships.
According to the information provided by Buledi, “Arrangements had already been made in accordance with an agreement between Trade Corporation of Pakistan (TCP) and the Gwadar International Terminal Limited (GITL) to manage the wheat import.”
Pakistan, which is located in South Asia, struggled this year to satisfy its energy demands due to a chronic shortage of foreign currency. In addition, Pakistan signed agreements with Moscow this year to import inexpensive oil and gas.
To read our blog on “To increase wheat productivity, Engro Fertilizers coordinates the “Grow More Wheat” campaign with the Punjab government,” click here.