President Shaikhani Proposes Private Sector Involvement in Wheat Procurement

In a recent statement, President Farooq Shaikhani of the Hyderabad Chamber of Small Traders & Small Industry highlighted the essential role of the private sector in rejuvenating declining institutions globally. He emphasized the need for Pakistani government institutions to provide adequate support and incentives to the private sector. Shaikhani noted that despite the official rate for a 100 kg sack of wheat being set at Rs. 10,000, the open market prices have decreased, causing financial challenges for farmers.

Pakistan, being the fifth-largest wheat-cultivating nation, faces issues such as wheat shortages and fluctuating flour prices, impacting both the public and traders. President Shaikhani proposed involving the private sector in wheat procurement, aligning with Islamic banking principles. This move is expected to enhance efficiency in the procurement process, improve market integration, and ensure timely distribution in response to market fluctuations.

Engaging the private sector in wheat procurement would not only benefit farmers by offering competitive rates but also lead to increased productivity and improved livelihoods. President Shaikhani stressed the importance of digitizing wheat inventory across all Sindh warehouses to maintain accurate data accessible through a designated website, facilitating transparency and efficiency in wheat transactions.

The call to involve the private sector in Pakistan's wheat industry comes as a strategic move to address market challenges, enhance farmer welfare, and streamline procurement processes. By embracing private enterprise and digitization, the country aims to achieve a more sustainable and efficient wheat supply chain, ultimately benefiting all stakeholders involved.