Friday, May 20, 2022

New Govt Rises Flour prices by 22.2 %

With termination of official wheat releases and the millers starting purchase from open market, 22.22 per cent increase in support price – from Rs1,800 to Rs2,200 per maund – on Friday translated into a hike of Rs11 per kilogram of flour, making life of the poor even more miserable.

The 10kg flour bag, which has so far been available in the market at Rs550, will now sell at Rs660 and 20kg bag, which hitherto cost Rs1,100, would now be sold at Rs1,310 – the biggest jump ever, which is going to hit the poor more psychologically as subsidy (Ramzan package) ended on one hand and increased wheat price has taken hold of the flour market on the other.

These rates have been announced by a section of millers having a substantial market share. However, the Pakistan Flour Mills Association (PFMA) Punjab chapter, on its part says it has asked its members to restrict the increase to Rs10 per kilogram, and even that will not be province-wide. In south Punjab, where wheat is still relatively cheap, the increase will go down correspondingly, says Asim Raza of the PFMA.

Nevertheless, it is being feared that higher rate (Rs11 per kilo) will be followed by all.

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