Behram Baloch
GWADAR: Gwadar Port is officially authorized to handle and process 450000 metric tonnes of wheat imports after the signing of formal agreement between the Trading Corporation of Pakistan (TCP) and Gwadar International Terminal Limited (GITL).
There is a strong possibility that the first batch of wheat will arrive at Gwadar port on December 25, 2022. According to the agreement, the regular time frame of processing will be between February 1, 2023, to March 31, 2023.
According to Gwadar Pro, the agreement is a leap towards enhancing the natural potential of Gwadar Port as a strategic hub in the region which will ultimately contribute US $ 10 billion in GDP to Pakistan’s economy.
ECC already approves lowest bid
The Economic Coordination Committee (ECC) of the Cabinet has already approved the lowest bid of a Russian company to import 45,000 metric tonnes of wheat through Gwadar port. The Ministry of National Food Security and Research has submitted a summary for the award of the 7th International Wheat Tender 2022, which was opened on 30 November 2022.
In view of the results of the 7th International Tender and G2G Offer, ECC has approved the lowest bid on a G22 basis from M/S Prudential Wing Russia for the supply of 450,000 MT to Gwadar Port for the shipment period from 1st February 2023 to 31st March 2023.
Wheat will be imported at the rate of $372 per metric ton. According to Gwadar Pro, it was decided that any additional cost on inland transportation from Gwadar port would be borne by PASCO, which would be collected from the provinces at the time of the release of wheat stocks.
