Flour price likely to go up by Rs200 per kg

The financial difficulties of the nationals have further increased amid skyrocketing inflation as flour prices were increased in different parts of the country, whereas, the flour price is likely to go up by Rs200 per kilogram due to the affected supply of wheat, ARY News reported on Friday.

Karachi Wholesalers Grocers Association (KWGA) Chairman Abdul Rauf Ibrahim expressed fear of a flour crisis across the country and inflated prices up to Rs200 per kilogram.

While talking to ARY News programme Bakhabar Savera, KWGA Chairman Abdul Rauf Ibrahim revealed that the country is likely to witness a flour crisis in the coming days. He said that the flour prices are likely to be jacked up by Rs200 per kg.

READ: GOVT RULES OUT POSSIBILITY OF POST-FLOOD FOOD SHORTAGE IN PAKISTAN

He said that flour is the most essential item for people but the higher rates of flour would further increase the difficulties of the common people.

Ibrahim blamed the Sindh government for the expected flour crisis as it fixed the support price for wheat up to Rs4,000 per maund seven months before the new crop.

He criticised the Sindh government’s decision to fix the support price for wheat despite knowing the country was facing a shortage of 8 million tons of wheat which encouraged hoarders and profiteers.

READ: FLOUR PRICE JACKED BY RS8 PER KG

Ibrahim said the government price of wheat was Rs55 per kg last year which doubled in a sudden hike up to Rs100 per kg. “In the retail market, per kg, normal flour is already being sold at the price of Rs120, fine flour at Rs130 and chakki flour at Rs140 per kg.”

He said that wheat hoarding will further increase the flour prices. The KWGA chairperson said, “Flour prices are doubled in Sindh as compared to Punjab. I have asked the government officials in a meeting whether they have increased inflation by themselves. If everything was going in a normal way, then why the government decided to fix the support price of wheat seven months before the new crop?”

He suggested the government immediately release the wheat quota to the flour mills instead of waiting for the month of October which will control the situation.

READ: SINDH GOVT FIXES WHEAT PRICE AT RS4000 FOR 2022-23

He added that the government should also formulate a policy for pulses. “They should make practical steps and summon the stakeholders. We are bound to import 80 per cent of pulses to meet the country’s requirements but banks are not providing dollars to the importers. At this time, orders of thousands of tons of pulses are stuck at the port and other consignments are in the way but the banks are not providing dollars to the importers.”

Regarding the comparison of cooking oil and ghee prices in Pakistan and global markets, Ibrahim said that the price of palm oil was reduced up to 50% from $1,800 but the rate was not decreased in Pakistan as the edible oil was still being sold at Rs400 per litre and branded oil at Rs530 per litre.

He revealed that branded companies took benefit of the situation as they purchased oil from the local market and sold the stocks at higher prices to the masses.