Pakistan: PASSCO Begins Procurement Process

Pakistan Agriculture Storage and Services Corporation (Passco) kicked off its paddy procurement at the selected centers in Punjab

PASSCO had earlier signed a Memorandum of Understandings (MoU) with 42 rice mills in Punjab allowing them to procure paddy from the growers on its behalf. The PASSCO officials will be visiting Sindh province in a couple of days to hold meetings with rice millers and the representatives of Sindh Agriculture Department to make arrangements in the province in this regard.

Mills would buy paddy at the government fixed rate of Rs 1,500 per maund (Super Basmati), Rs 1,250 (Basmati 385) and Irri-06 at the rate of Rs 700 per maund. Passco would purchase Super Basmati rice at the rate of Rs 3,000 per maund, Basmati-385 at Rs 2,500 and Irri at the rate of Rs 1,400 per maund. The Corporation is scheduled to buy 500,000 tons of Basmati and 500,000 tons of Irri variety rice.