Sitting on a stock of more than 15 million tonnes of wheat, India may soon allow public sector trading firms — State Trading Corporation of India (STC), MMTC and PEC — to export 2 million tonnes of the grain, sources said.
“These three public-sector units may be allowed to export 2 million tonnes of wheat after May 15,” a senior government official said.
Each of these trading firms may get to export about 65,000 tonnes of wheat, the official said, adding the notification would be issued after the elections.
The Empowered Group of Ministers (EGoM) had decided on March 5 to lift the two-year ban on wheat exports after May 15. The EGoM, headed by External Affairs Minister Pranab Mukherjee, took an ‘in-principle’ decision to lift the ban on wheat exports on ‘private account’ as the government has been releasing the grain to some countries on humanitarian grounds.
It also decided that modalities of wheat exports would be worked out by the Committee of Secretaries (CoS), headed by the Cabinet Secretary. Other members of the committee are Commerce and Food Secretaries.
The Commerce Ministry had last month suggested to the Food Ministry that it would be better to allow the government-owned trading firms to export wheat, instead of private firms, to avoid controversy.
Source : Business Standard