ISLAMABAD: Although the federal government claimed the fall of wheat flour price in Pakistan last week but the price reduction was inadequate compared to the kg. It was a minor reduction of 16 paisa per kg and also the flour was not available at the quoted rate of Rs.49.
The essential commodities of daily use such as wheat flour price in Pakistan, prices of sugar, tomatoes, onions, vegetable, ghee, potatoes and chicken were monitored on a weekly basis, by the National Price Monitoring Committee (NPMC). This all happened in response to the notification issued by the Ministry of Finance. Adviser to Prime Minister on Finance Abdul Hafeez Shaikh arranged a meeting to lead the NPMC and all other important economic ministries and departments are its members.
The finance secretary declared in a meeting that there is a price reduction recorded in wheat flour price in Pakistan, sugar and onion. The prices of tomatoes, potatoes and chicken showed a slight increase according to the updated Sensitive Price Indicator (SPI), issued by the Pakistan Bureau of Statistics(PBS).
The fall in wheat flour price in Pakistan is recorded by 0.31% or 16 paisa per kg in a week as per the PBS. Whereas, the average rate of wheat flour decreased from Rs.49.16 to Rs.49 during the period of last week.
But, the thing to ponder over is that wheat flour vanished from the markets at that price. Only the Utility Stores were serving wheat flour a t that time and their quality was not good. Pakistan Bureau of Statistics data rated the wheat flour price at Rs43 per kg in Islamabad but it was not available at that price.
Wheat flour was selling at Rs75 to Rs80 per kg in the retail market. Hence, there was a huge gap between rates as reduced by the government and actual prices they were selling at sue to shortage of availability in the market. The officially claimed wheat flour price in Peshawar was Rs68.
The PTI government didn’t notice how much wheat and its products was exported in the year 2018-2019 which became a primary reason of its shortage. About 590,000 tons of wheat was exported according to Ministry of Economic Affairs whereas the prime minister inquiry commission on wheat export reported at 1.36 million tons.
The wheat flour price in Pakistan was not justified as it was exported sufficiently creating a lack of availability in the local market. It was sold at Rs.2,200 per 40 kg whereas the government was claiming it to be available at Rs.1400. Around 5.5 million tons of wheat flour was exported from the year 2015-2020 by the federal government.
The chief secretary Sindh informed about the reduction in wheat flour price in Pakistan and also the fall in sugar prices in Sindh province. The Finance Ministry promised that the wheat flour price in Pakistan will further stabilise in the coming weeks. In this regard, the government has also introduced fair price shops to give relief to the general public. Although, the chicken is on the pricier side and the government is taking measures to stabilise its rate as well.