Wheat prices fly to 2400 rs per 40 kg

ISLAMABAD: Despite the government’s efforts to control rising inflation and ensure the availability of the essential items in the country, the price of wheat touched a historic high of Rs2400 per 40kg for the first time in the history of Pakistan.

Last December the country had faced a severe situation when the wheat had been sold at the rate of Rs2000 per 40kg but the price of the commodity reached Rs2400 per 40kg on October 5 before the advent of December, the publication reported.

All Pakistan Flour Association has demanded the federal and provincial governments to immediately announce official purchase price of wheat as harvesting of wheat has started in Sindh and the same would start in Punjab in November.

On the other hand, farmers have demanded that the Seed Corporation should announce the price of certified seed and announce the price of 50kg bag seed within the next 24 hours.

The flour association claimed that influential figures and not the owners of the mills were responsible for the shortage of wheat in the country.

Meanwhile, the government has approved the import of 200,000 metric tons of high standard wheat from Russia which would reach this month.

The Economic Coordination Committee had okayed the move under the GtoG arrangement in a bid to stabilize the prices of the commodity.

Separately, the National Price Monitoring Committee (NPMC) on Monday reviewed price mechanism for essential commodities and evaluated the reasons for the increase in their prices with particular focus on perishable items.

The NPMC meeting was held under the chairmanship of the special secretary finance, according to a press statement issued by the ministry.

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