LAHORE   -   The businessmen have called for the establishment of a judicial commission to investigate the wheat import scandal in an independent and impartial way, as the former caretaker government’s decision to import wheat worth one billion dollars in Oct 2023 during a severe shortage of dollars and in spite of ample wheat stock in the country, was deeply concerning.

They also lashed out at the Punjab government for not purchasing wheat from farmers, warning it of severe consequence if the decision regarding the non-procurement of grain is not revoked.

The FPCCI former Vice President and senior leader of the BMP Muhammad Ali Sheikh observed that the private sector leadership under the banner of Pakistan Businessmen Panel has always stood firm and united against harmful actions to national economy and the people of the country and has not accepted any move by mafias, who were responsible for creating chaos through unnecessary and unwarranted proposals, detrimental to national cause. “We shall continue our efforts for the protection of our community and the countrymen at large, who have been directly and indirectly involved in national economic growth” he stated and added that BMP has never safeguarded the vested interests of mafia, which not only halt the progress of the country but curb the large part of society.

He felt pity on the current leadership of FPCCI, which was trying to protect wheat mafias and providing shelter to most recent act of importing massive wheat just few months before the country’s wheat crop is being harvested. “This act of the current office bearers of FPCCI is not only ruining farmers, across pakistan, but also worsening wheat crisis in future.” he further added and stated that such action will also motivate mafia to adopt similar tactics, halting the preparation of rice crops because massive bunch of wheat crop is not being harvested yet.

Leadership of Businessman Panel condemned the act of current office bearers of FPCCI and  demands a transparent inquiry of wheat import crime by judicial commission so that such criminal acts which, may sabotage  country’s economy are  stopped. It is to be noted that the initial report of the probe regarding wheat import scandal revealed shocking details as it stated that the federal institutions are responsible for the unnecessary import of wheat. Despite existing reserves of 40.47 lakh metric tons in Punjab, an additional 35.87 lakh metric tons were imported, creating an artificial shortage.

The investigation has found that wheat was imported at a cost of Rs2600-2900 per maund and sold at a higher price of Rs4700 per maund. The import permission was granted for 1 million metric tons, but it was exceeded without limit.

The federal institutions allowed private companies to import wheat without proper checks, and some officials from the Ministry of Finance also failed to scrutinize the large-scale import.

Furthermore, the wheat import continued from September 26, 2023, to March 31, 2024, resulting in a massive influx of wheat in the market. It is pertinent to mention here that the wheat import caused a $1 billion loss to the national kitty. The private sectors favored in wheat imports in Pakistan, and these wrong decisions have resulted in a loss of $1 billion to the national exchequer.