Financial Daily from THE HINDU group of publications
Tuesday, Dec 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 30, 2003 |
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Industry & Economy
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Exports & Imports Agri-Biz & Commodities - Wheat Punjab's case for wheat export to Pakistan before Foreign Ministry Our Bureau
New Delhi. Dec. 29 THE Punjab Government has sought the Centre's permission for the export of wheat to Pakistan. The State Chief Minister, Capt. Amarinder Singh, has taken up with the Union Minister of Consumer Affairs, Mr Sharad Yadav, the issue of opening up of wheat trade with Pakistan, according to State Government sources. Currently, food grains are not among the commodities on the official approved list for trade between India and Pakistan. According to Capt. Singh, the Centre's clearance will pave the way for many important trade alliances with Pakistan. "It will also help in providing a boost to the State's economy and open avenues for more employment opportunities for our youth," he said. The Union Ministry of Food, it is learnt, has already recommended the case to the Ministry of External Affairs for clearance. With domestic wheat prices soaring in Pakistan, the Musharraf Government has decided to allow the import of large quantities of wheat to build reserves and stabilise prices. In this connection, Markfed, the Punjab co-operative marketing federation, had interacted with a Pakistani trade delegation and its flour mills' association. According to Punjab Government sources, the Pakistani authorities have issued a letter of interest to import two lakh tonnes of wheat immediately while the total requirement is about 20 lakh tonnes. According to the Chief Minister, the trade in wheat with Pakistan will also ease the pressure on railway rakes for movement of wheat since the delivery can take place through truck movement via the Wagah border. "It will save considerable amount of time on account of freight to port towns as the present policy of the Union Government on wheat envisages delivery at port towns only," Capt. Singh said. At present, the Centre spends, on an average, about Rs 900 per tonne on account of transportation till the port towns of Vizag, Mundra, Kakinada, Jamnagar and Vishakapatnam from Punjab whereas it will cost roughly about Rs 300 only to transport wheat from the various districts of Punjab to the Wagah border.
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