Won’t allow private sector to import wheat and earn huge profits: PM Shehbaz Sharif

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Prime Minister Shehbaz Sharif ruled out allowing the private sector to import wheat for the time being and “earn huge profits”.

PM Shehbaz’s statement on Thursday comes in light of the unusual circumstances following the devastation of the monsoon floods and the country’s foreign exchange problems.

The prime minister made this declaration while presiding over a National Flood Response and Coordination Centre (NFRCC) meeting in Islamabad. “I will not allow this, and I will not allow the private sector to procure it at a price of their choice.”

He said, “We are all loyal citizens of Pakistan. Each and every province administration is excellent and highly honorable. However, there is a mechanism in place, and when there has been destruction, there is the challenging issue of foreign exchange.”

The PM added that his team in the federal cabinet had worked hard to import the goods while still “saving billions of rupees”.

He stated, “We even haggled and secured discounts from the lowest bidder.”

According to the premier, even provincial governments have the capability to address the situation, but “this is an emergency”.

We cannot even afford to spend one extra dime in this emergency, he continued.

The PM questioned, “But why should I permit the private sector to import wheat? Why would I let the private sector operate at this time?”

According to the prime minister, under “normal conditions” and following consultation, the government would have been prepared to approve wheat imports for the private sector.

He stated that he would not permit the private sector to earn big profits and use Pakistan’s foreign exchange.

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