Support price of wheat should not be increased: Chairman FPCCI

Chairman Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Malik Sohail Hussain has said that support price of wheat should not be increased and its area under cultivation should be reduced so as to save the country from colossal losses.

In a media statement, he said that Pakistan produces more wheat than its consumption and the carryover stocks from the last years added up to millions of tons of surplus wheat which is problematic.

He said that Pakistani wheat is very costly in the world which is an incentive for growers but government suffers from heavy losses due to surplus production while the masses are made to pay more.

Sohail Hussain asked the quarters concerned to convince the growers for oil seed cultivation which will help cut edible oil import bill.

He urged the government to evolve a strategy for surplus wheat production.