On Thursday, a vessel from Russia transporting 50,000 tonnes of wheat arrived at Gwadar Port.
Chairman Pasand Khan Buledi Gwadar Port Authority (GPA) confirmed this on Thursday. He said arrangements for the wheat import had already been made under an agreement between the Trading Corporation of Pakistan (TCP) and the Gwadar International Terminal Limited (GITL).
He added that the agreement to import such a large volume of wheat was a significant step toward improving Gwadar port’s natural capacity as a logistics hub in the region.
The Finance Division in December 2022 first approved the import of 450,000 tons of wheat from Russia ahead of the next crop season, which is facing issues due to the impact of last year’s devastating flash floods.
The Russian wheat is being purchased on a government-to-government basis from February to March. According to a statement, the Economic Coordination Committee (ECC) of the federal cabinet, which met under Finance Minister Ishaq Dar at the time, approved the offer from Russian state firm Prodintorg at $372 per ton.