Punjab Food dept recommends Rs4,000 as wheat support price per 40 kg
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The Punjab Food Department has recommended the government fix per maund wheat support price at Rs4000 for the fiscal year 2022-23 in the province, 24NewsHD TV channel reported on Friday.
According to the sources, the food department in a written asked the government to fix Rs 4000 per 40 kg in Punjab following the footprint of the Sindh province.
This increase will give the farmers full compensation for their hard work and the area under cultivation of wheat will also be increased next year.
The target of purchasing 35 to 45 lakh metric tons of wheat in the new season will be set this year in the province, it added.
The cost of buying 35 to 45 lakh metric tons of wheat at Rs 4000 per maund is estimated to be Rs 352 to Rs 452 billion.
In the province, if the support price of wheat is Rs 3500 per maund, the purchase of 35 to 45 lakh tons of wheat is estimated at Rs 308 to Rs 396 billion.
The food department further said that with the increase in the support price of wheat, the release policy and rates will also be revised.
The Standing Committee on wheat will present further recommendations to the government.