Wheat crop may fall below 28m tons

The Ministry of Finance said on Thursday that wheat production may fall 11% to below 28 million metric tons this year due to dry weather conditions but inflation would remain stable around 3% in February. In its monthly economic outlook, the finance ministry stated that the upward trend in exports, imports and foreign remittances would continue in February too, indicating a current account deficit for the second consecutive month. The report said that favourable weather played a crucial role in achieving production targets. According to Pakistan Meteorological Department's weather outlook, the relatively dry conditions may cause water stress for Rabi crops, especially wheat in rain-fed areas, it added.