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Punjab government decides not to buy wheat from farmers

11:12 PM | 8 May, 2024
Wheat purchase

The Punjab Food Department has stated that the Punjab government has no intention to purchase wheat. Farmers are distressed as the government has decided against buying wheat, according to sources.

According to sources, Chief Minister of Punjab Maryam Nawaz wants to directly benefit farmers instead of benefiting the middlemen. The government cannot benefit the middlemen at the expense of the farmers' rights.

The Punjab Food Department reports that there are 2.27 million tons of wheat available in Punjab. If Punjab already has a year's supply of wheat, how can it purchase more? Punjab has to repay a loan of Rs. 355 billion taken for wheat. Every year, a loss of Rs. 125 billion is incurred in wheat purchase, while over Rs. 1 billion is spent on storing and maintaining wheat.

Sources say that by saving billions, farmers will be provided with facilities including farmer cards.

The Punjab Food Department also claims that 95% of wheat has already been sold by farmers, and the uproar by the middlemen is unnecessary.

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Today Open Market Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Riyal - 31 May 2024

Pakistani rupee rates against US Dollar and other currencies on May 31, 2024 (Friday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.1 for buying and 280.05 for selling.

Euro stands at 297.5 for buying and 300 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal increased to 73.50.

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar ‎USD 277.1 280.05
Euro EUR 297.5 300
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 75.95
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 741.29 749.29
Canadian Dollar CAD 204 206
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.39 40.79
Hong Kong Dollar HKD 35.6 35.95
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.01 917.01
Malaysian Ringgit MYR 59.25 59.85
New Zealand Dollar NZD 170.48 172.48
Norwegians Krone NOK 26.34 26.64
Omani Riyal OMR 722.39 730.39
Qatari Riyal ‎QAR 76.57 77.27
Singapore Dollar SGD 203 205
Swedish Korona SEK 26.13 26.43
Swiss Franc CHF 305.12 307.62
Thai Bhat THB 7.57 7.72

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