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Prices of food items skyrocket amid Ramadan

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PESHAWAR: With the beginning of Ramadan, prices of food items have also started skyrocketing without any check from the authorities concerned.

During a visit to markets in the capital city of Khyber Pakhtunkhwa (KP) to check and compare rates of edibles with those issued by the district administration, it was found that the prices of food items have continued to increase with each passing day in the holy month.

The price of live chicken has increased to Rs350 per kg and the price of rice increased by Rs70 per kg, said a vendor, adding that the price of rice has gone up to Rs335 per kg.

He also said that split chickpeas (chana dal) started selling at Rs220 to Rs260 per kg, while the price of beans increased by Rs60 per kg with rates jumping from Rs281 to Rs339 per kg.

The price of spices increased from Rs150 to Rs200 per kg, a shopkeeper told APP during a visit.

He shared that the price of spices in the city has reached Rs600 per kg and the cost of oil and ghee also seen a surge by Rs62 per kg, while other vegetables and fruits also now remain out of consumers’ purchasing power. Garlic is being sold at Rs360 and ginseng at Rs620 per kg. On the other hand, peas cost Rs200, Arvi Rs180, Zucchini Rs170, green capsicum Rs150 rupees and tomato Rs120 per kg.

The rates of fruits have also seen a hike. Sweet oranges are priced at Rs440 per dozen, oranges at Rs400 per dozen, banana at Rs300 per dozen, pomegranate Rs400, Iranian apple at Rs340 per kg, Kohati guava at Rs350 and strawberry costs Rs280 per kg.

The skyrocketing price hike also impacted the meat market with beef being sold for Rs700 per kg before Ramadan, but is now priced at Rs800 and Rs1,000 per kg, while the rates of mutton were increased from Rs1,400 to Rs1,600 per kg; thereby increasing to Rs1,800 per kg.

“The rates issued by the district administration do not suit us,” a butcher in the local market said.

When asked about the imposition of fines and raids from the district administration officials, he replied that most officials did not come inside the market to check rates during the recent rain due to heavy mud-stranded water; therefore, the shopkeepers began charging rates of their own choice.

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Changes in the US dollar’s value are directly correlated with variations in gold prices.

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The price of 24-karat gold in Pakistan increased by Rs1500 on Thursday, reaching Rs231,000 per tola. This was another jump in the price of gold in the country.

Dealers reported a comparable surge in the price of 10 grams of 24-karat gold, which is currently trading at Rs198,045 after rising by Rs1285. In addition, the cost of ten grams of 22-karat gold increased significantly, trading at Rs 181,541.

These fluctuations are strongly correlated with shifts in the US dollar’s value, demonstrating the tight connection between gold prices and exchange rates. This emphasizes how local gold markets are impacted by variables related to the global economy.

At Rs2,580, the price of 24-karat silver remains steady right now. The price of gold increased significantly on a global scale as well, rising by $14 to $2,214 per ounce.

It’s critical to understand that changes in the worldwide market can have a substantial impact on gold prices in Pakistan throughout the day. The gold rates that are offered are obtained from reliable sources, mostly situated in Karachi and Multan.

It is recommended that individuals seek the advice of nearby gold merchants and jewellers for the most precise and current information regarding gold prices.

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Pakistan pledged to finish building the TAPI gas pipeline.

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The minister discussed the importance of the TAPI gas pipeline project for Pakistan’s energy needs during a meeting with Turkmenistan’s ambassador to Pakistan, Atadjan Movlamov.

The Minister was congratulated by Ambassador Movlamov on taking office and his commitment to the project was noted.

Dr. Musadik Malik thanked the ambassador for his kind words, acknowledged the support, and promised to maintain the two nations’ friendship. The intergovernmental commission and working group meetings for the project this year were briefed by Atadjan Movlamov.

He invited the Minister to attend the Turkmenistan Energy Forum, which would take place in Paris the following month.

TAPI undertaking
The project is for the construction of a 1,680-kilometer pipeline with a 56-inch diameter that can carry 3.2 billion cubic feet of gas per day (bcfd) from Turkmenistan through Afghanistan and Pakistan to the border between Pakistan and India.

According to the terms of the TAPI agreement, Afghanistan would receive its portion of 0.5 billion cubic feet of gas per day, while Pakistan and India will each receive 1.325 billion cubic feet of gas per day.

In order to carry out the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, Pakistan and Turkmenistan inked a cooperative implementation plan in Islamabad on June 4.

Prime Minister Shehbaz Sharif and a delegation from Turkmenistan, led by Minister of Energy and Water Resources Daler Juma’a, were present at the ceremony.

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The price of gold is still rising in Pakistan.

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According to the All Sindh Sarafa Jewellers Association, the cost of 10 grams of 24 karat gold grew by Rs. 86 to Rs. 196,760 from Rs. 196,674, while the cost of 10 grams of 22 carat gold jumped to Rs. 180,363 from Rs. 180,284.

The price of silver per tola and ten grams stayed at Rs. 2,211.93 and Rs. 2,580, respectively.

According to the Association, the price of gold on the global market rose by $7 to $2,200 from $.2,193.

It is important to note that Pakistani and IMF personnel have agreed at the staff level on the second and final review conducted as part of Pakistan’s Stand-By arrangement.

The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on the second and final review of Pakistan’s stabilization program, which is supported by the IMF’s US$3 billion (SDR2,250 million) SBA Agreement. This is according to the official statement released by a team led by Nathan Porter.

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