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KARACHI – People in Pakistan’s financial capital Karachi are bearing brunt of massive surge in commodities rates, with people now bracing for another hike in milk prices.
The Commissioner of Karachi approved the increase of Rs 10 per liter in the price of milk, in light of Dairy Farmers Association demand. With another price hike, the new rate stands at Rs 210 per liter.
A report shared by a local news outlet earlier suggests surge of Rs 50 per liter hike in milk prices. President of Dairy Farmers Karachi, Mubasher Qadeer Abbasi hinted at expected increase, linking it to high milk production costs, and increase in cattle prices.
Abbasi urged the Karachi Commissioner to issue a notification aligning milk prices with production costs. He warned that milk sellers will unilaterally raise prices, if authorities fail to announce increase by May 10.
Lately, Sensitive Price Indicator (SPI) showed a one percent decrease in weekly inflation for all consumption groups. Prices of 15 items increased, 18 lowered, and 18 remained stable.
Prices of tomatoes, chicken, onions, and wheat flour moved down while items that increased included potatoes, garlic.
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