From Abid Usman
LAHORE: The Punjab Flour Mills Association (PFMA) Tuesday increased the price of a 15kilogrames (kg) bag by Rs50 or Rs5 per kg.
According to details, the Punjab Flour Mills Association (PFMA) jacked up the price of a 15kilogrames (kg) bag by Rs50, citing an increase in the wheat prices in the open market
After the increase of Rs15, the 15kg flour bag was now being sold at Rs1350. Meanwhile, the price of wheat has increased from Rs2800 to Rs3000 per maund in the open market.
In a statement, the PFMA said association took the step in the wake of increase in the wheat price in the open market. “Thus, an increase of Rs50 per 15kg bag of flour becomes inevitable,” it added.
A day earlier, it was reported that wheat and flour crises hit Punjab province after flash floods triggered by heavy downpours damaged the crops in the country.
According to sources, flash floods have damaged 0.3 million tonnes of wheat in Rajanpur and Fazilpur districts of Punjab province.
Agencies said that the Punjab food department requested the federal government to allow import of one million tonnes of wheat as the province was witnessing a wheat shortage.
It is pertinent to mention here that the annual inflation rate in the country, after a 1.31% weekly increase, reached a historic high of 46.10%, Pakistan Bureau of Statistics (PBS) data showed.
