Wheat Crisis Looms as Price Drops to Unbelievable Low, Farmers Warned to Abandon Crops

Lahore:Senior Pakistan Peoples Party leader Nadeem Afzal Chan has issued a stark warning regarding the ongoing wheat crisis, suggesting that farmers might soon abandon wheat cultivation due to the plummeting prices. Speaking to Geo News, Chan revealed that recent discussions on social media indicated that the price of 1 maund (40 kg) of wheat had dropped to the equivalent of just one paisa. He attributed this crisis to the government’s policies, which have led to a situation where no one is purchasing wheat from farmers.

Chan expressed deep concern that the price of wheat had dropped to as low as Rs. 2,000 per maund. “If this continues, farmers will abandon wheat cultivation altogether,” he warned. This would lead to Pakistan needing to import wheat worth Rs. 2 to 3 trillion in the coming months.

Meanwhile, Khyber Pakhtunkhwa’s Finance and Inter-Provincial Affairs Advisor, Muzzammil Aslam, reacted to the wheat price crisis and broader economic challenges. He noted that the drop in wheat prices by Rs. 100 per maund has caused a loss of Rs. 75 billion to farmers across the country, with Punjab’s farmers suffering a Rs. 50 billion loss alone.

Aslam further stated that, based on current prices, farmers are losing Rs. 1,200 per maund, which amounts to Rs. 600 billion in Punjab and Rs. 300 billion in the rest of the country—approximately $3.2 billion in total. This alarming situation, according to Aslam, suggests that Pakistan will be forced to import wheat, diverting significant foreign currency reserves to international suppliers.

In addition to the agricultural crisis, Aslam projected the country’s economic growth rate for the current year to be between 2.5% and 3.0%, well below the target of 4%. He also highlighted that industrial production had contracted by 1.9% over the past eight months, with a sharp decline of 5.9% in March alone. Aslam emphasized that Pakistan’s agriculture sector is facing its worst crisis in history, despite the absence of any natural disasters.

The deteriorating agricultural and industrial sectors are putting significant strain on Pakistan’s economy, with both farmers and consumers bearing the brunt of the government’s failure to address critical economic challenges.