PEW lashes TDAP for failing to find new markets for surplus wheat

Lahore: The Pakistan Economy Watch (PEW) on Sunday said Trade Development Authority of Pakistan (TDAP) hasn’t paid attention to find export markets for surplus wheat which will destabilise local market and pave way for exploitation of farmers.

Wheat crop has been badly hit by rain in many areas while slow buying by the authorities due to lack of storage capacity is giving opportunity to profiteers to exploit farmers, it said.

The surplus stock may hit mark of ten million tonnes of which a part will be wasted due to insufficient and substandard storage capacities, said Dr. Murtaza Mughal, President PEW.

He said that export is the only solution in sight but the authorities responsible for it are not interested in discharging duties and promoting rural economy.

Dr. Murtaza Mughal said that government should hike import duty on wheat by 100 percent to discourage imports having a destabilising impact on market and deter importers who bring second-rate wheat to make fortunes on the cost of masses.

Government plans to spend Rs 222 billion on purchase of wheat which will boost stock but absence of proper storage and piecemeal exports would play havoc with the stored wheat.

The situation has worsened for farmers as the private investors have delayed buying unless they get commodity on throwaway prices.

The departments responsible for finding export markets seems to be more interested in politics, useless exhibitions, cultural activities and providing subsidies to favourites ignoring rural communities which are dubbed as backbone of the economy.