The Economic Coordination Committee (ECC) decided on Friday to purchase wheat from Russia provided they would accept a $390 per tonne price.
If a price of $399.50 per tonne can be agreed upon, the ECC session chaired by Finance Minister Miftah Ismail will decide to buy wheat from Russia.
On a government-to-government (G2G) basis, the Ministry of National Food Security and Research provided an overview on the supply of milling wheat from Russia.
To negotiate with the Russian Embassy on the import of wheat, the PM established a committee under the direction of Tariq Fatemi, Special Assistant to the Prime Minister on Foreign Affairs.
In their discussion with the minister of commerce, the Russian delegation proposed a decreased price of $405 per tonne, which was eventually lowered to $400 per tonne.
The Ministry of National Food Security & Research on the recommendations of the Ministry of Commerce proposed a price of $399.50 per tonne for the supply of 120,000 tonnes +/- 5 percent MOLSO of milling wheat through G2G arrangements for the consideration of the ECC of the Cabinet.