Punjab releases additional wheat to curb price hike
The Punjab government has approved the release of additional wheat from its reserves to stabilize market prices and control flour costs. The release price has been set at Rs 2,900 per maund. This decision follows the earlier approval of 1.2 million metric tons of wheat. Officials hope this move will prevent artificial shortages, curb inflation, and ensure price stability.
Punjab government on Saturday approved the release of more wheat from its reserves in an effort to stabilize the market and control flour prices across the province.
A notification issued by the Price Control and Commodities Management Department on Tuesday stated that the release price of government wheat has been set at Rs 2,900 per maund.
The decision is aimed at ensuring an adequate supply of wheat and preventing any artificial shortages.
Earlier, the Punjab cabinet had approved the release of 1.2 million metric tons of wheat, which has already been sold by the Food Department.
In light of the current market conditions, the government has decided to release additional stocks from its warehouses.
Officials believe that the move will help stabilise wheat and flour prices, preventing any undue inflationary pressure on consumers.
The government has also instructed authorities to monitor the market closely and take strict action against hoarding or price manipulation.
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Source : MM News
