LAHORE – Flour mills in Punjab region has increased the prices of the basic food commodity, citing uptick in rates of wheat.
Punjab Flour Mills Association chairman said flour price has been increased by Rs1 per kilogramme in line with hike in production cost.
He said wheat price moved up by Rs300 per 40 kilogrammes in previous two weeks, adding that wheat stock is also running out in the markets.
He said that the food department could not control the economy of the open markets by issuing “illegal” notifications. He urged the government to withdraw the show-cause notices served on the flour mills in Punjab.
Meanwhile, the Economic Coordination Committee of Cabinet has approved additional export of five hundred thousand metric tonnes of surplus sugar.
The approval was accorded at a meeting of the Committee chaired by Minister for Finance Muhammad Aurangzeb in Islamabad on Friday.
The export is subject to an undertaking by Pakistan Sugar Mills Association that their mills will commence production by 21st of next month for the next crop year and export quota of any non-compliant mill will be revoked.
The exporters will also ensure that the consignments are shipped within ninety days of allocation of quota.
The ECC directed the Cabinet Committee on Monitoring Sugar Exports to continue monitoring the demand, supply and price situation of sugar in the country and update the Cabinet in this regard.
