Tag: Passco

230 wheat procurement centers across country established by PASSCO

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article image In order to facilitate the grain producers to sell their produces at official fixed rates. Pakistan agriculture storage and Services Corporation has established about 230 wheat procurement centers across wheat growing areas in country. Muhammad Khan Khichi Managing Director PASSCO said that a center has been set up in order to initiate the wheat procurement […]…Read More

Passco selling old wheat stocks

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article image STAFF REPORT LHR: After approval of the Economic Coordination Committee (ECC) to dispose of old wheat stocks, the Pakistan Agriculture Storage and Services Corporation (Passco) has sold 137,000 tons to the millers, says a Passco spokesperson in a statement issued here last week.On March 13, the ECC had allowed Passco to sell wheat stocks of 450,000 tons to local millers. The permission was granted after Passco argued that if it kept the surplus commodity, it would put an extra burden on the…Read More

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