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Pakistan

Prices of sugar, wheat flour witness significant decline in last ten days due to govt's measures, strategy: Ministers

  • He said that as there was shortage in wheat production due untimely rains and bad weather conditions, wheat was being imported to overcome the deficiency of around 2.2 million metric tons.
24 Nov 2020

ISLAMABAD: Minister of Industries and Production Muhammad Hammad Azhar and Minister for Economic Affairs Makhdoom Khusro Bakhtiar on Tuesday said that owing to the government’s measures and strategy, the prices of sugar and wheat flour had witnessed significant decline over the last ten days.

They were addressing a press conference here along with Minister for Information and Broadcasting Senator Shibli Faraz after the meeting of Federal Cabinet, chaired by Prime Minister Imran Khan.

Minister for Industries and Production Muhmmad Hammad Azhar said that due to the import of around 125,000 tons of sugar by the government, a decline of Rs. 10 to 12 per kg at the ex-mill price of sugar, had been witnessed in last ten days.

He further said that the imported sugar was being provided at the rate of around Rs. 81 per kg at facilitation centers in Punjab and Khyber Pakhtunkhwa, whereas the commodity was being made available at Rs. 68 per kg at 4000 Utility Stores outlets across the country.

Hammad Azzhar said that as per prediction of market experts the price of sugar would further decline in the open market at whole sale and retail levels due to increased supply of the commodity and competition.

Minister for Economic Affairs Makhdoom Khusro Bakhtiar said that the price of wheat flour was also showing declining trend for the last ten days bringing down the prices of the commodity from Rs. 2,400 to Rs. 2,200 per 40 kg.

He said that as there was shortage in wheat production due untimely rains and bad weather conditions, wheat was being imported to overcome the deficiency of around 2.2 million metric tons.

The Minster said that the government had also increased the support price for wheat and fixed the new rate at Rs. 1,650 per 40 kg to ensure due return to farmers of their produce.