Plan to end agri-sector intervention sought

The International Monetary Fund (IMF) has again asked Pakistan to submit a plan for orderly transition from the agricultural support price mechanism to market-determined rates of commodities aimed at preventing farmers from losses and supply chain disruption. In the absence of any such plan, there is a policy paralysis and no decision has been taken on the quantum of maintaining the strategic reserves of wheat. The global lender inquired about the agricultural transition plan late last month during a virtual meeting, two months after the deadline to prepare and submit the plan lapsed, according to the government sources. The plan had to be submitted by the end of September 2024 but so far the Ministry of National Food Security and Research has not submitted any such document, according to sources in food and finance ministries. However, the food ministry has prepared a brief for provinces, where it emphasised the need for maintaining strategic reserves but there is no consensus that could determine the volume of reserves and give farmers a plan to deal with the end to the support price mechanism.