The Pakistan government on Friday took steps to regulate the country's wheat market by banning the import of wheat and the export of flour.

Islamabad: The Pakistan Muslim League (N) government led by Prime Minister Shehbaz Sharif on Friday banned the import of wheat and export of flour to regulate the country's wheat market, according to a notification issued by the Ministry of Commerce, Ary News reported. The decision was taken as the country imported wheat in excess of its demand, leading to a wheat surplus.

The government has amended its Import and Export Policy Order 2022 to implement the ban, which also includes a ban on the export of flour made from imported wheat.

Earlier in March, the federal government had conditionally allowed the export of flour made from imported wheat under the Export Facilitation Scheme 2021.

On July 10, Prime Minister Shehbaz Sharif told the National Assembly that the government had not decided on wheat exports despite the hasty introduction of the State-Owned Enterprises (Governance and Operations) Bill, 2024 in the legislature.

“No decision has been taken regarding export of wheat. I want to bring on record before the House that there is no such decision for wheat export,” he told the National Assembly while replying to a point of order raised by a Member of Parliament.

However, referring to PTI government's sugar and wheat scams, he reminded that earlier wheat and sugar were first exported and then imported and where crores and billions of rupees went was part of history.

Given the green light by the board's nomination committee, the new Senate decision enables executives to fire employees at state-owned companies. Before it becomes formally valid, President Asif Ali Zardari still needs to sign the amendment.