Wheat prices in Karachi witness Rs8/kg decline in a week

KARACHI, February 7: The wheat prices in Karachi have witnessed a decrease of Rs8 per kg in the last week.
The wheat prices continue to decline in Karachi’s open market. The commodity is being sold at Rs63 per kg after the recent decline of Rs2 per kg.
A private television reported on the other hand, the flour millers have not transferred the benefit to the end-users, as the Fine Flour of the flour mills is being sold at Rs74 per kg and dhayee number at Rs70/ kg.
It may be noted that the flour mills were provided one lac tonnes of wheat at the government rate. Last week, the Sindh Cabinet in a session decided to fix the support price of wheat in the province at Rs2200 per maund.
A session of the cabinet chaired by Chief Minister Murad Ali Shah, approved procurement of 1.4 million metric tonnes of wheat and allocated Rs. 4450 million funds for procurement of the grain, which is used as staple food. The chief minister also directed for procurement of wheat in northern Sindh from 1st March. “The procurement centres will be opened in the last week of February,” he said. -TLTP