Pakistan annually produces about 25 million tons of wheat & 6 million tons of rice. Storage of these grain is undertaken for various domestic and commercial reasons. During storage heavy quantitative and qualitative losses are known to occur that reduce the food availability and render monitory losses. Major shortcomings in this regard are poor sanitary conditions, leaky and poorly maintained warehouses and ill trained storage officials. Storage losses are not only a problem in wheat and rice but also effect the other stored grains. During storage, insect pests are known to cause considerable damage and weight loss to these commodities. In this study seven (7) methods of loss assessment were examined to investigate the actual losses in stored IRRI-6 and Basmati varieties of rice and wheat stored in public sector godowns. Studies have concluded that during one year storage 1-2% average loss on dry basis was recorded depending upon various factors. Study also pin pointed the areas of future research.