Punjab mills increase flour price by Rs1 per kg
Business
Claim they hiked the rate after increase in wheat price
LAHORE (Web Desk) – Punjab Flour Mills Association has increased the prices of flour on the claim that wheat prices have gone up, forcing them to hike the flour rate by Rs1 per kg.
Flour prices have risen by Rs250 per 20kg flour bag due to the increasing wheat price. Wheat prices in major cities like Lahore and Rawalpindi have crossed Rs3,000 per maund (40kg) for the first time in the previous two weeks.
Wheat stock is also running out in the markets, the Punjab Flour Mills Association (PFMG) said.
The wheat price in Rawalpindi has surged to Rs3,200 per 40 kg against the government-notified maximum retail price of Rs2,950.
Similarly, flour millers in Lahore are purchasing wheat at Rs3,000 per 40 kg against the notified price of Rs2,900.
The millers argue that flour mills are operating according to basic market principles of supply and demand.
Following the increase in flour prices, the food department issued a show-cause notice, which was condemned by PFMG, calling it arbitrary and unjust.
