The Minimum Support Price of wheat within the range of Rs3,000-3,200/40 kg for 2022–2023 will be approved by the Economic Coordination Committee (ECC), which will meet on Monday under the chairmanship of Finance Minister Ishaq Dar.
The nation’s main crop and a vital one is wheat. The government fixes the Minimum Support Price (MSP) to ensure fair returns to the farming community while ensuring maximal cultivation and self-sufficiency. MSP for the ensuing year was set at Rs 2200 for every 40 kilogramme.
The Agriculture Policy Institute (API) has calculated the cost of production for the wheat crop Rabi 2022–2023 to be Rs2,495 for the average farmer and Rs2,427 for the progressive producer.
Wheat price jumps by Rs10 per kg
In its meeting on July 15, 2022, the National Assembly Standing Committee for NFS&R suggested that the provinces finalize the wheat support price for the next year.
Later, the NA Standing Committee on Commerce suggested that the federal government announce the MSP of wheat at least Rs3,000/40 kg at its meeting on September 2, 2022. On August 26, 2022, the provincial governments were informed of the anticipated expenditures during a meeting that was presided by the Minister for NFS&R. Their prices for 40 kg range from Rs2,600 to Rs3,000.
While the government of Balochistan has not yet declared it, the provincial governments of Punjab and Khyber Pakhtunkhwa have approved the support price of wheat at Rs3,000/40 kg. The support price for wheat has been set by Sindh’s provincial government at Rs 4,000 for 40 kg.
According to the sources, a cabinet committee requested that the MSP be reviewed when it met with CM Sindh. However, no comments have been made.
