Business

Flour prices hit all-time high in Pakistan

Published

2 years ago

Farwa

20-kg flour bag being sold at Rs2,400 in Karachi and Quetta.
In Hyderabad, a 20kg flour bag is being sold at Rs2260.
Price of 20Kg flour bag is up to Rs980 in major cities of Punjab.

Prices of flour have reached an all-time high in the country as a 20-kg flour bag is being sold at Rs2400 in Karachi and Quetta, said the Pakistan Bureau of Statistics (PBS).

According to the data released by the PBS, in Quetta with an increase of Rs480 per 20Kg during the last 15 days, flour is being sold at Rs120/Kg, while in Karachi price per 20/Kg flour bag has risen to Rs260 in the last 15 days.

As per data, in Hyderabad, a 20kg flour bag is being sold at Rs2260, while in Larkana the price of 20Kg flour bag has been set at Rs2100.

Similarly, the price of 20Kg flour bag has reached Rs2,040 in Sukkur and 2,200 in Khuzdar.

PBS stats show that the price of 20Kg flour bag is up to Rs980 in major cities of Punjab, while in Islamabad, the 20 kg flour bag is of the same price.

‘Inflation rate dropped to 0.19%’

A day earlier, The Pakistan Bureau of Statistics (PBS), however, reported that the SPI-based inflation rate dropped to 0.19% during the week ended September 15 compared to last week.

Data released by the Pakistan Bureau of Statistics (PBS) showed that the average prices of 10 essential items, onions, tomatoes, bananas and other items declined during the outgoing week.

Prices of 30 items, including tea, eggs have rose. Meanwhile, the rates for 11 essential goods remained unchanged.

The combined income group index went down from 225.67 points during the week that ended on September 8 to 224.98 points in the week under review.

On weekly basis prices of following essential items rose:

Food items:

Tea Lipton 190 gram — 6.30%
Pulse Moong (washed) — 3.46%
Eggs — 2.54%
Pulse Gram — 2.53%
Eggs — 3.84%
Cooked beef — 2.53%
Wheat flour — 1.96%
Bread — 1.45%

On weekly basis prices of following essential items decreased:

Food items:

Onions — -16.24%
Tomatoes — -9.84%
Bananas — -2.5%
Chicken — -1.88%
Sugar — -0.95%
Vegatable Ghee (1kg) — -0.39%
Potatoes — 0.33%

Non-food items:

LPG — -2.62%

Business

Pakistan suffers a loss of millions due to inoperable airports.

Published

1 day ago

Farwa

The Pakistani economy is strengthening and trending in the right direction, according to Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb on Thursday.

Speaking at the Pakistan Saudi Arabia Business Forum, Aurangzeb stated that the goal of the government was to support the private sector rather than engage in commerce. His goal was to encourage business-to-business (B2B) trade and investment, thus he welcomed the delegation from Saudi Arabia.

Within the last 12 to 14 months, the minister saw a considerable improvement in macroeconomic stability. With the help of foreign exchange reserves sufficient to cover two months’ worth of imports, Pakistan steadied its currency, decreased its current account deficit to less than $1 billion, and produced a primary surplus.

Strong remittances, expanding exports, and a drop in inflation from 38% to 6.9% have all contributed to the consolidation of these benefits, according to Muhammad Aurangzeb. Companies have also profited from the insurance rate reduction.

Even if Pakistan’s credit rating has improved, more work needs to be done to bring it up to at least a B-. Both on the debt and equity sectors, he claimed, institutional flows were returning to the nation.

As the International Monetary Fund (IMF) board approved an extended program for the nation, the Islamabad Stock Exchange set a record high.

He stated that the IMF program will implement structural reforms in addition to ensuring macroeconomic stability for the long run.

The government of Pakistan remains committed to structural changes, sustainable growth, and tax reform, as stated by Muhammad Aurangzeb.

Business

Pakistan’s economy is getting better, according to Muhammad Aurangzeb

Published

1 day ago

Farwa

The Pakistani economy is strengthening and trending in the right direction, according to Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb on Thursday.

thus,Speaking at the Pakistan Saudi Arabia Business Forum, Aurangzeb stated that the goal of the government was to support the private sector rather than engage in commerce. His goal was to encourage business-to-business (B2B) trade and investment, thus he welcomed the delegation from Saudi Arabia.

As the International Monetary Fund (IMF) board approved an extended program for the nation, the Islamabad Stock Exchange set a record high.

He stated that the IMF program will implement structural reforms in addition to ensuring macroeconomic stability for the long run.

The government of Pakistan remains committed to structural changes, sustainable growth, and tax reform, as stated by Muhammad Aurangzeb.

Business

Remittances from Workers

Published

2 days ago

Farwa

In September of this year, the State Bank of Pakistan reported that remittances from overseas Pakistanis amounted to 2.8 billion dollars, reflecting a 29% increase compared to the remittances received in September of the previous year.

The SBP reports that, with a cumulative inflow of 8.8 billion US dollars in the first quarter of the financial year, workers’ remittances increased by 38.8 percent compared to the first quarter of the previous year.

Remittance inflows in September 2024 were primarily derived from Saudi Arabia at $681.3 million, the United Arab Emirates at $560.3 million, the United Kingdom at $423.6 million, and the United States of America at $274.9 million.