LAHORE, Oct 4: The Pakistan Flour Mills Association (PFMA) on Tuesday reduced the ex-mill price of 20kg bag by Rs2 throughout Punjab under its Ramazan package. This was announced by the Punjab chapter of the association here after its meeting.

According to the association, the reduction will be in addition to what the Punjab government has already announced in its Ramazan package.

In Lahore, the ex-mill price of 20kg bag is Rs242, which will now come down to Rs240. The retail price of 20kg bag in the city hovers around Rs250, and remains to be seen how the reduction in the ex-mill rate affects the market price.

According to market watchers, the impact of PFMA decision will be different throughout the province as there is no uniform price of wheat and flour. According to millers, they are grinding some 600,000 bags of 20kg on daily basis. That means that millers will be taking the loss of Rs1.2 million daily. But they are under religious and moral obligation to contribute their bit to the government’s efforts to check price hike.

Following a meeting with Punjab Food Minister Muhammad Iqbal, the millers decided to reduce the price and hoped that the PFMA chapters in other provinces would also follow suit.—Staff Reporter