Thursday, July 29, 2021

Flour prices likely to go up as mills seek relief in Budget 2021-22

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LAHORE: Prices of the flour are likely to up after July 01 following an announcement from the Pakistan Flour Mills Association (PFMA) on Monday, seeking concessions in budget 2021-22, ARY NEWS reported.

The flour mills have hinted at increasing the prices by Rs30 on a 20-kilogram flour bag in case the government refused to budge to their demand, saying that they were forced to take the decision after an increase in taxes.

“The turnover tax on wheat has been raised to 1.25 percent,” Chairman PFMA Asim Raza said adding that a 17 percent tax is being imposed on the choker, which will come into force from July 01.

He said that if the government refused to withdraw these taxes then they would be forced to increase the flour prices from July.

It is pertinent to mention here that the prices of roti in Lahore city have already gone up from Rs8 after nanbais on Sunday said that the hike was needed in the wake of rising prices of flour.

Read More: Price of 20kg flour bag rises to Rs1,020 in Punjab

The price of roti has been increased from Rs8 to Rs10 while no increase was announced in the prices of Naan and kulcha.

“We have been receiving a 20-kilogram flour packet at Rs 1070, contrary to its previous rate of Rs860,” the nanbais said adding that the price was only raised after an increase in flour prices.

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