{
  "id": 16681773,
  "title": "IMF consulted before fixing wheat price, says Rana Tanveer",
  "url": "https://urgent.news/2026/10/26/imf-consulted-before-fixing-wheat-price-says-rana-tanveer",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T23:30:25.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446068/imf-consulted-before-fixing-wheat-price-says-rana-tanveer"
  },
  "original_language": "en",
  "account": "Federal Minister for National Food Security and Research Rana Tanveer Hussain announced on Monday that the government had sought input from the International Monetary Fund (IMF) before establishing the wheat price at Rs4,500 per maund. Speaking at a press conference, the minister highlighted that the national wheat policy had been developed over a span of four decades to safeguard farmers’ interests and ensure food security. Accompanied by Pakistan Kissan Ittehad President Khalid Mahmood Khokhar, Tanveer emphasized that provincial governments had reached an agreement on the wheat price to protect farmers’ interests, stabilize the market, and bolster national food security. He disclosed plans to maintain strategic wheat reserves of up to six million tonnes for the year, aiming to ensure uninterrupted supplies and prevent shortages. Tanveer firmly denied a potential wheat shortage, stating that sufficient stocks were available to meet the nation’s needs. When questioned about the need for a regulated wheat market, he argued that such a market was essential since wheat is a staple food.\n\nThe minister also addressed imported wheat prices, noting they would be around Rs4,900 per maund, making domestic procurement a more advantageous choice. He reiterated the government’s commitment to prioritize Pakistani farmers over unnecessary imports. Additionally, over 1.3 million tonnes of wheat had already been distributed to provinces from Pakistan Agricultural Storage and Services Corporation (PASSCO) stocks, with arrangements possible for importing up to 550,000 tonnes contingent on provincial requirements and demand. Tanveer attributed the recent surge in wheat prices to artificial market manipulation by certain entities, asserting that ample stocks were present in the country. He expressed optimism that prices would normalize within a few days and cautioned about measures to curb speculative practices, artificial shortages, and unjustified price hikes. The minister underscored that the national wheat policy was formulated after extensive consultations with provincial governments, emphasizing ongoing cooperation with provincial administrations and farmer organizations during its implementation. Prime Minister Shehbaz Sharif’s administration is pursuing broader agricultural reforms aimed at enhancing productivity, reducing production costs, and strengthening food security.\n\nMoreover, Tanveer detailed plans to formulate policies regarding seeds, olives, and biotechnology to modernize agriculture and spur innovation. He stressed that access to quality seeds and the adoption of innovative agricultural technologies were crucial for boosting crop yields and improving farmers’ economic prospects. Describing agriculture as the backbone of Pakistan’s economy, Tanveer stressed that sustainable growth in the sector is vital for economic stability, rural prosperity, and long-term food security. He noted that Pakistan is disproportionately affected by the Middle East crisis, as 80% of its energy import bill is vulnerable to external shocks. He acknowledged that the prices of DAP (di-ammonium phosphate) had risen while urea prices remained stable. Regarding sugar, Tanveer confirmed that its retail price remained steady at around Rs140 per kg. Khalid Mahmood Khokhar welcomed the decision to fix the wheat price at Rs4,500 per maund, appreciating the consultations with provincial governments and expressing the need for farmers to receive a predictable and reasonable price for their produce to safeguard their economic interests.",
  "summary": "ISLAMABAD: The government has taken the International Monetary Fund (IMF) on board before fixing the wheat price at Rs4,500 per maund, Federal Minister for National Food Security and Research Rana Tanveer Hussain said on Monday. Addressing a press conference here on Monday, the minister said the national wheat policy was formulated after nearly four decades to protect farmers’ interests and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}