Milk Price Surges in Karachi Amidst Fiscal Pressures

Milk Price Surges in Karachi Amidst Fiscal Pressures (representative Image)

VoM News Desk | May 5, 2024 | 11:37 AM IST | Pakistan News, World | Follow on Google News

Milk Price Surges in Karachi Amidst Fiscal Pressures

Milk Price Surges in Karachi Amidst Fiscal Pressures

Key Highlights:

1. Milk price in Karachi rises to PKR 210 per litre after approval from the city’s commissioner.
2. Initial speculations of a PKR 50 per litre increase gave way to a PKR 10 hike, burdening citizens amidst inflation.
3. Dairy Farmers Karachi president anticipates an additional PKR 50 per litre hike, citing production costs and government neglect.

In Karachi, Pakistan, the price of milk skyrocketed to PKR 210 per litre following approval from the city’s commissioner, acceding to demands from the Dairy Farmers Association, reported by ARY News. While earlier speculations hinted at a potential PKR 50 per litre hike, the recent increase stands at PKR 10 per litre, adding to the financial strain faced by residents already grappling with inflation.

Mubasher Qadeer Abbasi, president of Dairy Farmers Karachi, anticipates an imminent additional increase of PKR 50 per litre, attributing it to soaring production costs, escalating cattle prices, and government neglect. Abbasi urges prompt action from the Karachi Commissioner to issue new price notifications aligned with production costs, warning of unilateral price hikes by stakeholders if no action is taken by May 10.

Meanwhile, ARY News reports a one per cent decrease in weekly inflation according to the Sensitive Price Indicator (SPI) in Pakistan. Despite this, there’s a significant 24.37 per cent increase compared to the same period last year, reflecting the ongoing financial challenges. The lowest consumption group witnesses a 1.09 per cent decrease in SPI, offering a slight respite amidst economic uncertainties.

Sources from ARY & Dawn

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.