Prices of commodities to rise next week

Rates for essential items were fixed on March 4 for two months


Rizwan Asif May 08, 2020
PHOTO: REUTERS

LAHORE: The Lahore administration has decided to increase the official prices of essential commodities by 10 to 15 per cent due to changes in the supply and demand situation in the market.

A significant increase is expected in the prices of pulses, gram and rice, while those of other commodities will also go up. Lahore deputy commissioner presided over a meeting held on Thursday to hold final consultations on the increase in prices in view of new rates list issued by the Faisalabad DC a few days ago. The new prices for Lahore will be announced next week. It has been decided that a new notification will be issued in this regard.

Punjab govt fails to curb food price hike

The meeting reviewed the availability, demand and prices of essential commodities. It was agreed that the prices of essential commodities in Lahore were fixed on March 4 for two months. During the lockdown imposed to prevent the spread of coronavirus, the prices of various commodities, especially pulses, have risen due to the trade and social situation, the participants were informed.

The Faisalabad deputy commissioner issued the new price list on April 27. The notification for Lahore will be issued by May 6.

Inflation rises 11.4% on hike in food, energy prices

Government sources said the Punjab Industries Department uses a formula for fixing prices of pulses and other commodities in Lahore by adding the transportation cost to the rates fixed by the Faisalabad administration. Thus the prices of pulses and other commodities may increase by more than 10 per cent from the list notified in March.

Published in The Express Tribune, May 8th, 2020.

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