ISLAMABAD, Pakistan,despite COVID pandemic and financial constrain was providing essential commodities including sugar, wheat, flour, petrol and edible oil on low prices to the people as compared to the International market.
In one year, the price of sugar in Pakistan increased by 19.70% while in the international market it increased by 58.3%, similarly the price of petrol increased by 33% and the price of crude oil in the international market increased by 119.4%, the sources in the Ministry of Finance told on Thursday.
In Pakistan, the price of banaspati ghee increased by 52.58% and cooking oil by 20.65%, while in the international market, the price of palm oil increased by 102.6% and soybean oil by 119.2%.
According to sources in the Ministry of Finance, in May 2020, the price of (refined) sugar in Pakistan was Rs 81.37 per kg, while in May 2021, the price of sugar was Rs 97.43 per kg. Therefore, during last one year, the sugar price increased by 19.70 in Pakistan.
On the other hand, the price of sugar in the international market was 240 dollar per metric tonne in May 2020, which reached 380 dollar per metric tonne in May 2021. Thus, the price of sugar in the world market has risen to 58.3 percent. In the last one year, the price of sugar in the world market has increased by 38.60% more than that of Pakistan.
According to the report, the price of cooking oil in Pakistan during May 2020 was Rs. 1276.40 per 5 kg, which has been increased to Rs 1540 in May 2021 and the price of five kg cooking oil in the country has increased by 20.65% in one year.
In May 2020, the price of soybean oil in the world market was 684 dollar per metric ton, which reached to 1499 per metric ton in May 2021. The inflation rate was 119.2%. Thus, the price of cooking oil in the international market has increased by 98.55% as compared to Pakistan.
In addition, the price of vegetable ghee in Pakistan was Rs 247.29 per kg in May 2020, which has increased by 22.58% to Rs 303.12 per kg in May 2021. On the other hand, the price of palm oil in the world market was 574 dollar per metric tonne in May 2020, which reached 1163 per metric tonne in May 2021 and the price has increased by 102.6% in one year.
On the other hand, the price of petrol in Pakistan was Rs 81.58 per liter in May 2020, which has increased by 33% to Rs 108.56 per liter in May 2021, while the price of crude oil in the international market during May 2020 was 33 dollar per metric ton. With the increase of 119.4 percent, the price of crude oil in the world market has reached to 68 dollar per metric ton during May 2021.
Similarly, a bag of 20 kg wheat flour was selling at Rs. 878.15 in Pakistan during May 2020 and the price increased by 28.53% in a period of one year to Rs. 1128.69 per 20 kg bag of flour in Pakistan during May 2021.
The price of wheat in the world market was 209.9 dollar per metric ton in May 2020 and increased by 29.1% and reached to 271 dollar per metric ton in the world market in May 2021. Thus, in the last one year, the price of sugar in the world market has increased by 38.60 per cent while the price of petrol has increased by 86.4 per cent more than that of Pakistan.
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