A shocking revelation has emerged from the ongoing investigation into the wheat import scandal, indicating a potential loss exceeding Rs300 billion to the national exchequer.

The initial report suggests a deliberate scheme where the private sector was granted unrestricted access to import wheat during the caretaker government’s reign, leading to excessive imports and massive financial repercussions.

The investigative committee’s report has exposed a concerning situation where the Ministry of Finance, under the caretaker government, recommended an open-ended allowance for wheat imports by the private sector, surpassing the established limits. This move allowed wheat traders to exploit the system and amass significant profits.

Further investigation revealed that customs duty and GST were also waived on these imports, a decision seemingly influenced by the approval of caretaker Prime Minister Anwarul Haq Kakar and a subsequent summary forwarded by the Ministry of National Food Security.

Adding to the controversy, the report highlights the Ministry of National Food Security’s disregard for crucial recommendations put forth by the Ministry of Commerce and the Trading Corporation of Pakistan (TCP).

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This intentional oversight facilitated the import of surplus wheat, resulting in the staggering financial losses. Consequently, PASSCO and provincial departments fell short of their procurement target of 7.80 million tons, managing to acquire only 5.87 million tons.

As investigations continue to unravel the extent of the scandal, focusing on the role of the Ministry of Food Security and the private sector’s import of over 3.5 million metric tons of wheat, a sense of urgency prevails. The committee is expected to present its findings to the Prime Minister within two weeks.

In light of these developments, the federal government has taken decisive action by forming an investigative committee, led by Justice (retired) Mian Mushtaq, to thoroughly examine the wheat import scheme implemented during the caretaker government’s tenure. The committee’s mandate includes investigating the unnecessary wheat imports and the subsequent financial losses incurred by the national treasury.

Additionally, the Ministry of Commerce and the caretaker government’s alleged involvement in the flawed import decision will be under scrutiny. The nation awaits the committee’s report, expected within two weeks, which will hopefully shed light on the full scope of this scandal and pave the way for accountability.