LAHORE: According to ARY News on Tuesday, the Punjab Flour Mills Association (PFMA) has raised the price of a 15 kilogramme (kg) bag by Rs50, or Rs5 per kg.
Details indicate that the Punjab Flour Mills Association (PFMA) increased the cost of a 15 kilogramme (kg) bag by Rs50, citing a rise in the open market price of wheat.
The price of the 15kg flour bag had increased by Rs15, making it available for Rs1350. In the meantime, the open market price of a maund of wheat has grown from Rs. 2800 to Rs.
The PFMA stated in a statement that the organisation took the action in response to a rise in the price of wheat on the open market. It said, "Therefore, an increase of Rs50 per 15kg bag of flour becomes necessary."
A day earlier, it was reported that the Punjab province experienced a wheat and flour shortage as a result of flash floods brought on by prolonged downpours that destroyed the nation's crops.
In the Punjab province's Rajanpur and Fazilpur districts, 0.3 million tonnes of wheat have reportedly been damaged by flash floods.
According to sources who spoke to ARY News, the Punjab food department asked the federal government to permit the entry of one million tonnes of wheat because the region was experiencing a scarcity.
It is important to note that the Pakistan Bureau of Statistics (PBS) reported that the country's annual inflation rate hit a historic high of 46.10% after increasing by 1.31% on a weekly basis.
