July 09, 2007	Monday	Jamadi-us-Sani 23, 1428

TAXILA, July 8: The skyrocketing prices of wheat flour here have compounded the miseries of the masses, especially the salaried class, as millers are fleecing consumers while the food department and local administration as well as the price control committees are playing the role of a silent spectator.

The district and tehsil administrations have also failed to stabilise flour prices in the local markets despite a bumper harvest of the crop this year.

At present, a 40 kg bag of wheat is selling at Rs465 to Rs470 in the open market against Rs425 a couple of months ago. As a result, the retail price of atta has surged to Rs265 and Rs280 per 20 kg bag, which was Rs255 to Rs262 two months ago.

The prices of bread and other confectionery items are likely to increase following the surge in flour, fine flour (maida) and Soji rates. The price of fine flour has gone up by Rs150 per 84 kg and Soji by Rs80 per 50 kg. At present, the price of an 84 kg bag of fine flour is Rs1,400 and that of Soji is Rs800 per 50kg bag. As these are two major ingredients of confectionery products, the prices of bread, biscuits, cookies and cakes, etc., are also certain to go up.

It may be noted that following the bumper crop of wheat and having sufficient strategic reserves, the federal government had decided to export wheat. As a result, exporters made huge buying of the commodity from the open market by paying Rs430 to Rs445 per 40 kg to the growers against the government’s support price of Rs425 per 40 kg.

Talking to this reporter, a number of flour millers feared that if the government did not start early release of wheat from its stocks, an increase of Rs8 to Rs10 per 20 kg increase in flour prices was imminent within a month.

They said the government’s decision to export wheat was untimely due to which hoarders purchased the commodity for export purpose. —Correspondent