IMF Raises Concerns Over Pakistan’s Wheat Policy

The International Monetary Fund (IMF) raised concerns over Pakistan’s recently approved wheat policy after it appeared that a minimum support price had been set, ministry sources told ProPakistani. However, the Ministry of Food Security quickly clarified that the policy specifies an indicative price, not a fixed support price, resolving the issue with the IMF. The IMF had reached out to the ministry following the policy’s approval, seeking clarification and a more detailed framework. Sources revealed that the ministry responded by explaining that no fixed minimum support price had been set. The initial confusion stemmed from a misunderstanding that led the IMF to believe a minimum price had been established. The indicative price was calculated based on the international price of US hard red wheat, which is currently quoted at $238 per tonne. This price was adjusted for Karachi landing costs and transport expenses to Multan, resulting in an estimated imported wheat price of Rs. 3,500 per maund for delivery to Multan. The ministry emphasized that the figure is indicative, not a guaranteed procurement price. Sources added that the concerns raised by the IMF had been addressed, and the matter was also shared with the Prime Minister’s House.