ISLAMABAD – Pakistan has approved importing three million metric tonnes(MT) of wheat from Russia on the government to government (G2G) basisdespite sanctions on Moscow.
Economic Coordination Committee (ECC) of the Cabinet presided over byFinance Minister Ishaq Dar gave a final nod to import Russian wheat besidesapproving an increase in commission to oil marketing companies (OMCs) onthe sale of petroleum products.
The cash-strapped country will get wheat from a state-owned company of theRussian government at a price of $372 per tonne and it will be shippedbetween November and January 15.
Back in August, Islamabad dismissed Moscow’s offer to supply over 1 lacmetric tons of wheat at a price of $399.50, in a bid to get cheaper options.
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Meanwhile, officials informed the ECC, a consultative forum forcoordinating economic security, that M/s Prodintorg is not aninternationally sanctioned entity as food exports by Russia are excludedfrom the banned items list after military advance.
Last time, Islamabad imported one million metric tons of wheat from Moscowin 2020 under the government-to-government deal.
