ISLAMABAD: Two cargo ships carrying 300,000 metric tons of Russian wheat docked at a port in the southern Pakistani city of Karachi, local media reported on Tuesday, citing the Pakistani ministry of food security.
The South Asian country has been facing one of the worst wheat crises in recent times and the government is struggling to balance the demand and supply of wheat largely due to the deteriorating macroeconomic situation.
Pakistan’s forex reserves have fallen to an eight-year low and are barely enough to cover three weeks of imports, while currency depreciation and decades-high inflation have added fuel to the fire.
To top it all off, the devastating flood that hit Pakistan last summer washed away large swathes of agricultural land, forcing the South Asian country to import wheat from Russia and other countries.
“Two cargo ships carrying 300,000 tons of wheat, the first consignment from Russia, docked at Port Qasim on Monday,” Pakistan’s Geo News channel reported, citing the ministry of food security.
“The remaining 400,000 tons of the total 700,000 tons of Russian wheat will reach Gwadar port by March 30.”
Local residents queue to buy wheat flour at government-controlled prices in Islamabad on January 10, 2023. (Photo courtesy: AFP)
In November last year, the country’s Economic Coordination Committee, which is headed by Finance Minister Ishaq Dar, approved a plan proposed by the ministry of commerce to procure wheat from the Russian government.
Amid an increase in flour prices, residents in the southwestern Pakistani city of Quetta on Monday blocked a key highway as they protested a delay in the provision of subsidized flour.
Meanwhile, a man lost his life last week when a stampede broke out in the Mirpurkhas district of the Sindh province, as hordes of buyers rushed to purchase subsidized wheat from mini trucks.
The Sindh government on Tuesday announced it had established 64 points in Karachi to sell flour at discounted rates.
