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As wheat prices continue to soar across Sindh due to the provincial government's failure to curb hoarding and overcharging, the Karachi Commissioner on Friday raised the official retail rates for various flour varieties, DAWN reported.
The fresh price hike coincided with a citywide enforcement campaign aimed at ensuring wheat flour is sold at government-notified rates. During the drive, Karachi's assistant commissioners imposed fines totalling PKR 1.2 million on business owners found violating the official price ceilings. This comes amidst the ongoing struggles being faced by Pakistan in the management of wheat prices in the past few days. On July 10, the widening disparity between government-fixed flour prices and prevailing market rates has intensified concerns over a potential flour supply crisis in Karachi, exposing growing flaws in Pakistan's price control mechanism, as reported by The Express Tribune. According to The Express Tribune, the Karachi administration has announced revised retail prices, setting regular flour at PKR 125 per kilogram, fine flour at PKR 135 per kilogram and chakki flour at PKR 145 per kilogram.The notification also fixed wholesale prices of regular flour at PKR 122 per kilogram and fine flour at PKR 132 per kilogram, while maintaining the chakki flour price at PKR 145 per kilogram. However, industry representatives have dismissed the official rates, arguing that they do not reflect the sharp increase in wheat costs. Despite the government's notification, flour continues to be sold at much higher prices across Karachi. Regular flour is reportedly retailing between PKR 145 and PKR 150 per kilogram, while fine flour is available in the range of PKR 160 to PKR 170 per kilogram. Chakki flour is also being sold at approximately PKR 160 per kilogram, highlighting the widening disconnect between official price ceilings and actual market conditions. Industry stakeholders have cautioned that the mismatch could disrupt flour supplies if authorities fail to revise the pricing policy. (ANI)
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