The Pakistan Flour Mills Association (PFMA) Punjab chapter has announced a significant jump in the prices of flour bags in line with the increase in prices of wheat in the open market.
The millers have tipped at an increase of Rs 120 per 20-kilogram bag for Lahore, Kasur, Sheikhupura, Faisalabad, Okara, Sahiwal and some other cities of central Punjab while the increase will be Rs 50-60 for 20 kilograms bag for Southern Punjab.
The PFMA Central Chairman in a message said that wheat prices had gone very high. The wheat rate in Lahore is Rs1600/40kg on which flour price is to be Rs 900/20kg with the retail price of Rs 920. Likewise in Rawalpindi, wheat price has crossed Rs 1740/40kg which means Rs 970/20 kg ex-mill and retail price Rs 990.
He said it was decided with the government in a meeting that new rates of flour would be applied from May 28, 2020 as earlier the PFMA Punjab branch had been voluntarily offering flour at Rs 783 ex-mill and Rs 805 retail in the month of Ramazan.
It means that the millers are going to add Rs 115 per 20 kilograms bag. PFMA Punjab Chairman Abdur Rauf Mukhtar in a statement to media said the price of wheat was very high in the open market after Eid holidays. So, it was not possible to sell the flour on old rates which were Rs 783 ex-mill and Rs 805 at retail, he added.
He said after the Punjab food department had fixed the grinding charges at Rs 100 per 20-kilogram bags, so from today prices would be fixed as price of wheat in the open market plus Rs 100 grinding charges.
He said flour bags would be available on new prices in the market from Saturday after calculation according to the formula of wheat prices plus grinding charges.