Wheat price surge stokes inflation fears

CM Shah orders market intervention to curb artificial flour price hikes

KARACHI:

Alarmed by a sharp rise in wheat prices and growing concerns over potential flour shortages, Sindh Chief Minister Syed Murad Ali Shah on Friday directed provincial authorities to take immediate measures against hoarding and speculative trading, warning that no one would be allowed to manipulate the supply of a staple food item at the expense of consumers.

Chairing a high-level meeting on wheat market stability, the chief minister reviewed the widening gap between the government's support price and prevailing market rates, as well as reports of stockpiling that could fuel further price increases. Officials informed the meeting that while wheat remains available in the market, certain elements are allegedly attempting to create artificial scarcity through hoarding.

"The government's first responsibility is to safeguard the interests of the people of Sindh," Shah said, stressing that wheat availability, affordability and food security must be protected. "We will not allow hoarders or speculators to play with the basic food needs of our citizens." The meeting was told that despite a procurement target of one million metric tonnes for the 2025-26 crop, the Food Department had purchased only 79,835 metric tonnes by June 4, largely because open-market prices remain significantly higher than the official support price.

Expressing concern over the situation, the chief minister ordered stricter market regulation to prevent artificial increases in flour prices and directed the Food Department and other relevant agencies to submit regular progress reports on enforcement measures.