Amount to be paid by Punjab govt for wheat purchase now all-time high

By: Ali Ramay
Published: 02:18 PM, 29 Mar, 2022
Amount to be paid by Punjab govt for wheat purchase now all-time high
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The amount to be paid by the Punjab government in lieu of purchase of wheat is now all-time high, reported 24NewsHD TV channel on Tuesday.

Concerned officials have told 24News that the provincial government has purchased 3.5 million metric tonnes of wheat for Rs193 billion this year due to which the outstanding amount has reached Rs640 billion.   

They have further said that the sum to be paid to banks annually for the purchase of wheat from them is growing day by day. And the matter has been further complicated due to increasing markup on these loans. 

In the last government the outstanding amount stood at Rs150 billion. 

On the other hand, the documents which 24News has managed to obtain tell that the Punjab government owes Rs436 billion in debt to the creditors, and after the purchase of more wheat this year, the amount will go up further.     

The documents reveal that right now Punjab has 1.1 million metric tonnes of wheat stock.

Ali Ramay

Ali Ramay is a Senior Investigative Reporter associated with Pakistan's City News Network (CNN). He has been associated with the CNN group since 2013 and mainly covers investigative stories in departments under the Punjab Government.