In a significant development, the Karachi Port received its first-ever shipment of wheat imported from Russia through the private sector on Sunday.
Government Eases Wheat Imports Amidst Shortfall
In a move to tackle the three-million-ton shortfall despite a bumper crop, the government has authorized both public and private channels for wheat imports.
Private Sector Procures Wheat from Russia at Attractive Rates
Under the newly implemented policy, the private sector successfully procured wheat from Russia, with the first vessel arriving at Karachi Port.
The private sector managed to secure the wheat at a cost of $279 per metric ton, which is expected to lead to a considerable reduction in the commodity’s ex-mill price, estimated around Rs. 92 per kg.
Previous Wheat Import at Gwadar Port
Prior to this, back in March, a Russian vessel had docked at Gwadar Port, carrying 50,000 tonnes of wheat. This decision was also taken in response to the wheat shortage and flour crisis across the country.
