Punjab CM upholds old wheat prices

Buzdar has made it clear there should be no increase in the price of flour and the government will bear the subsidy

LAHORE: Punjab Chief Minister Usman Buzdar, rejecting the support price of wheat, has principally decided to uphold the previous government rates of wheat and flour. To fulfil this objective, the government will bear a subsidy of Rs480 per 40kg at the government rate and the support price for procurement from farmers will be fixed at Rs1,300 per 40kg.

At the same time, wheat will be provided to flour mills from the start of August. There is strong apprehension of losses to traders who will store wheat in the midst of this decision. A few days ago, several suggestions were sent in a summary sent to CM Punjab from the department of food. The CM Punjab made it clear that there should be no increase in the price of flour and the government will bear the subsidy. In the previous season, the department of food sold wheat to flour mills at Rs1,300 per 40kg. The ex-mill and wholesale prices of flour, weighing 20kg, were fixed at Rs760 and Rs775, respectively.  

Published in The Express Tribune, July 3^rd, 2019.