Flour price hiked by Rs50 per bag

LAHORE: The price of flour has been hiked by Rs50 per bag in the retail market, raising it to the level of Rs975/20kg bag or Rs48.75 per kg.

According to Haji Yousaf, veteran trader and president Lahore Atta Dealers Association, the price of wheat has been on the rise and reached Rs1800 per 40 kg. Such a high price of grain necessitated upward revision of flour price.

Since early last month, there has been a surge of Rs170 per bag or 21 percent in the price of flour, which is a staple food in this part of the world. The flour price was enhanced by all the millers and it will be applicable from Wednesday.

Meanwhile, price of fine ‘atta’ has also been increased to Rs4700 per 84 kg bag, showing an increase of Rs300. The price of ‘suji’ or semolina was also hiked to Rs2850 per 50kg bag from Rs 2650.

Market insiders are of the opinion that price of flour may shoot up to Rs100 per bag in a few days if government failed to take remedial measures. They also stressed the need to introduce targeted flour subsidy scheme for the poor as soon as possible in order to shield them from the adverse effects of emerging inflationary pressure.