Wheat prices increase by 36% compared to last year, government orders to increase supply

Pakistan's federal government has expressed concern over the escalating prices of wheat and flour, directing federal and provincial authorities to increase supply and take necessary measures to stabilize costs. This directive comes after a significant surge, with flour prices increasing by 36.49 percent this week compared to the same period last October, according to the Pakistan Bureau of Statistics. The average price of a 20kg flour bag across the country has risen to 2,976 Pakistani Rupees, up from 2,180 Rupees last year, and also saw a one percent increase from the previous week. Specific prices vary by city, with a 20kg bag costing 3,412 Rupees in Karachi, 3,333 Rupees in Islamabad, and 3,133 Rupees in Lahore. During a cabinet committee meeting chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar, the stock and supply situation of essential commodities were reviewed, confirming that current wheat reserves, both local and imported, are sufficient until the next harvest. Despite this, Dar underscored the need for urgent action to address the rising prices and ensure ample supply to the market, highlighting the government's commitment to mitigating inflationary pressures on staple food items.