The initial report on the wheat import fraud “reveals” startling details.

According to reports, the initial assessment suggested that the federal institutions are accountable for the unneeded import of wheat. Despite existing reserves of 40.47 lakh metric tons in Punjab, an additional 35.87 lakh metric tons were imported, creating an artificial shortage.

According to sources, the research suggests that officials from Pasco and the Punjab Food Department may have been involved in the fraud.

According to sources, federal institutions permitted private enterprises to import wheat without conducting the necessary checks, and certain Ministry of Finance officials neglected to closely examine the significant import.

In addition, wheat imports persisted from September 26, 2023, to March 31, 2024, creating a significant glut of wheat on the market. Within three days, the government will receive the entire report, according to further sources.

It is important to note that the import of wheat cost the federal coffers $1 billion.

The national exchequer has lost $1 billion as a result of the private sectors’ preference for wheat imports into Pakistan, according to sources.