LAHORE: For the first time in 72 years history of Pakistan,the Punjab Flour Mills Association (PFMA) on the request of the government decided to cut the price of flour despite the fact that wheat prices touched a record high across the country.
The PFMA called an emergency meeting the other day on the request of Prime Minister Imran Khan and Punjab Chief Minister Usman Buzdar and decided to reduce the flour prices.
Price of wheat held by the private sector in Punjab reached Rs1,900 per 40 kg while it hit Rs2,000 per 40 kg in both Sindh and Khyber Pakhtunkhwa. As a goodwill gesture and after successful deliberations, the flour mill owners agreed to reduce the flour price by Rs3 per 20kg bag.
After the cut in the price, a 20kg flour bag will be available at the wholesale price of Rs783 and retail price of Rs805 in Punjab. Chief Minister Buzdar will formally announce the price reduction after his meeting with PFMA top brass.
It is pertinent to mention here that flour mills have announced to cut flour price during the release phase of the government wheat stocks while in the past, mills used to announce price cuts once wheat would be supplied to the market and the sale of the government wheat stocks would stop.
