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Passco paying high financing cost of surplus wheat stocks

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article image STAFF REPORT IBD: The Pakistan Agricultural Storage and Services Corporation Limited (Passco) is reportedly paying Rs 13.4 million per day as financing cost on surplus wheat stocks procured at an inflated price as compared to international prices, sources said.Passco argues that early disposal of one million tons of surplus wheat will not only forestall deterioration in the quality of stocks but burden of Rs 4,889.18 per ton on account of storage/financial cost for next year would be eliminated…Read More