KARACHI(National Times)- Consumers continued to face rising prices for wheat and wheat flour as the federal government plans to import one million tonnes of grain to curb the escalating costs.
According to the Sensitive Price Index data as at Aug 6, the prices of 20 kg wheat flour, 10 kg wheat bag and one kg fine flour have further increased in Karachi to Rs2,700-3,000, Rs1,200 and Rs158.56, up from Rs2,600-2,900, Rs1,160 and Rs149.46, respectively, prevailing at the week ending July 30.
The national average prices of a 20 kg flour bag, 10 kg wheat, and 1 kg fine flour for the week ending Aug 6 were Rs2,200-3,133, Rs1,235, and Rs153, as compared to Rs2,200-3,133, Rs1,223, and Rs152.14 for the week ending July 30. In the above period, wheat flour price has risen by 0.52pc.
Traders said that the government is not paying any attention to the rising prices of wheat and wheat flour ahead of one million wheat imports. If the government does not bother to control prices before the arrival of imported wheat, consumers will not derive any substantial benefit from this decision.
As per SPI data, in Islamabad and Rawalpindi, 10 kg wheat bag prices are the highest at Rs1,339.31, forcing consumers to pay Rs3,040-3,133 for a 20 kg wheat flour bag, followed by Rs173.68 per kg of fine flour, compared to other cities.
As provinces are outlining their plans and requirements for wheat, the Sindh Cabinet on Wednesday approved the import of 500,000 tonnes of wheat through the Trading Corporation of Pakistan under the framework being coordinated by the federal government.
Punjab plans to import one million tonnes followed by 200,000 tonnes by Khyber Pakhtunkhwa and 57,500 tonnes by Balochistan.
Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim said the government needs to expedite its efforts to curb wheat hoarding by vested interests and speculators who have already plunged into the commodity business.
He said the government is taking too long to issue a tender for wheat imports, as it will take a few months for imported wheat to reach Pakistan, while the new wheat crops will arrive in March-May 2027.
