Pakistan Agricultural Storage & Services Corporation (PASSCO)
Managing Director: Mr. Imran Nasir
Headquarter: Pakistan Agricultural Storage & Services Corporation (PASSCO),11-Kashmir Road, Lahore
Phone: +92-42-99201461-2, +92-42-36302875-6
PASSCO was established in 1973 and commenced its operations in May, 1974. It was registered as a Public Limited Company with authorized capital of Rs. 100 million and paid up capital of Rs. 30 million. 75% of paid up capital was contributed by five Commercial Nationalized Banks and ADBP (now ZTBL) and balance 25% was subscribed by the Federal Government. The Board of Directors (9 in No), who are appointed by the shareholders, control the Corporation. Secretary Ministry of National Food Security & Researches Government of Pakistan Islamabad is the ex-officio Chairman of the Board of Directors and Managing Director is Ex-officio Director of the Board.
- Facilitate the Federal Govt. in its quest to ensure national food security by maintaining strategic reserves of different food grain commodities providing the same to deficit provinces including armed forces and maintain international food bank on behalf of Federal Govt.
- Ensuring implementation of support price to stabilize the prices and extend state welfare to farmer’s community, also to carry out agro business activities at own/ collaboration with national and international organizations aiming at farmer’s community interest achieving self-sustainability lessening burden on national exchequer while endeavouring to achieve farmer’s prosperity and self sufficiency in food grain commodities in Pakistan.
Within the ambit of its MISSION, functions assigned to PASSCO are:-
- Procurement of Wheat and other agriculture commodities, when called upon.
- Implementation of Government policy regarding Support Price for wheat, paddy and other specified agricultural commodities.
- Storage of wheat and paddy, and its release to deficit provinces/regions as well as Armed Forces.
- To maintain Strategic Reserves as per policy of Federal Government.
- Price Stabilization by intervening in domestic market.
- Undertake import/export when called upon.
- Construction of modern storage facilities.
- Carrying out agro business/ trade activities to achieve sustainability.