| GEO Business|
| Business community welcome increase in wheat support price|
| Updated at: 0528 PST, Wednesday, October 01, 2008|
ISLAMABAD: Business community here on Tuesday appreciated government’s decision of increasing wheat support price to Rs. 950 per 40 kg terming it “a right decision at a right time”.
“This is a right decision of government at a right time which would benefit the farmers and encourage them to produce more wheat for the benefit of the country”, Shabbir Sheikh a Senior representative of All Pakistan Flour Mills Association told media here Tuesday.
Mr. Sheikh said this decision of the government would benefit 70 percent of the population living in the rural areas and also help grow more wheat and strengthen the national economy.
He also observed that this would also discourage smuggling as farmers would get the prices of their commodities according to international market.
He expressed the hope that the country would be able to achieve the wheat target of 25 million tons with raise in procurement price.
However, he said that prices of flour would increase if the issue of wheat price is not brought down to prices of wheat being provided to the mills.
He called for rationalizing of prices of the commodity for poor segments of the society.
President Islamabad Chamber of Commerce and Industry Muhammad Ijaz Abbasi also appreciated increase of wheat support price to Rs. 950 per 40 kg and expressed the hope that it would benefit farmers and encourage them to produce more wheat not only for meeting country’s own requirement but also for its imports.