Onion prices decline in Lahore markets
Lahore trendpk.com: Onion prices went down in Lahore markets due to import of the commodity from Sindh. In wholesale markets, onion was being sold at Rs 40 per kg.
According to market sources, price of the commodity has seen decline during last few days, and import from Sindh is told to be main cause of the decrease. Price of onion is recorded at Rs 50 per kg in retail markets. Onion is being exported to India at Rs 32 per kg while traders are preferring local market due to high price.
Cotton price on record high
The local as well as the international prices have increased to a new unprecedented level, trendpk.Com reported on Saturday.
The cotton price in the local market has reached 9500 rupees per 40 kg. after an increase in the international cotton prices, the price level of the commodity also jumped up in the local markets. This week witnessed an increase of 1000 rupees per 40 kg of cotton.
On the other hand the cotton price in the international market has reached new record level of 1.60 dollars for urgent delivery.
Sugar being sold at Rs 96 per kg
Delay in the crushing season forced the hoarders and black marketers to store sugar, while the price of the commodity witnessed a continued steep rise.
Sugar is being sold at Rs96 per kilogram.
Rates of the commodity have been risen ten times in the last month while no check on hoarding cause price hike.
As per market sources, a 100kg sugar sack is being sold at Rs 8,650 at factory rate.
Global gold prices drop down
After a continuous increase in the gold prices across the world for almost two months, the prices have come down during the current week. Per ounce gold price has reduced by 63 dollars.
According to experts international uncertain economic situation and devaluation of dollar resulted in increased investment in other metals and increasing prices. However now after dollar gain and increased corporate profits, gold purchases decreased with a consequent decrease in the commodity prices.
At the end of the business week the gold prices closed at 1325 dollars per ounce.
Bulls hold sway at gold markets
Gold and silver prices continued to rise in local and international markets this week as gold hit all time high on last business day and added $74 per ounce while silver stood at $2.50. According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. According to World Gold Council, uncertainty in the global economic condition forced the traders to buy the commodity, which pushed the prices.
Bulls hold sway at gold markets
Gold and silver prices continued to rise in local and international markets this week as gold hit all time high on last business day and added $74 per ounce while silver stood at $2.50. According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. According to World Gold Council, uncertainty in the global economic condition forced the traders to buy the commodity, which pushed the prices.
Crude oil prices down as dollar rises
A mixed trend is witnessed during oil trading in the Asian market as the commodity rate remained less than $75.
Decrease in demand in USA also lowered the oil purchaseLight Sweet Crude Oil for November delivery is up by 13 cents to $74.84 cents. London Brent North Sea deals reached $77. 79 cents.
Ogra issues notice to oil companies over profiteering
Oil & Gas Regulatory Authority (OGRA) on Tuesday took notice of petrol shortage in the country and issued show cause notices to oil marketing companies and petrol pumps.
Ogra said that during their visit to different areas of Punjab, monitoring teams of enforcement department got to know that many oil marketing companies and filling station were involved in black marketing and were selling the commodity on inflated rates.
Ogra said all the four chief secretaries have been asked to launch action against all the culprits in this regard. According the Ogras Director Enforcement Shahid Nauman, oil marketing companies have been sought to account for the recent petrol scarcity and in absence of satisfactory response, the licenses of these oil companies may be cancelled. These show-cause notice have been issued to Pakistan State Oil (PSO), Shell Pakistan Limited, Chevron, Caltex Oil (Pakistan) Limited, Attock Petroleum Limited, Total Parco Pakistan Limited (TPPL), Admore Gas (Pvt) Ltd (AGPL), Oscar Oil Services Limited, Byco Petroleum Pakistan (BPPL), Hascol Petroleum Limited, Bakri Oil Trading Company and Overseas Oil Trading Company Limited.
Gilani orders to restore fuel supply in Punjab, Balochistan
Prime Minister Yousuf Raza Gilani on Sunday took notice of the shortage of petrol in Punjab and Balochistan and issued directives to restore the supply of the commodity to all the filling stations forthwith.
Hundreds of petrol pumps are shut in Punjab and Balochistan due to acute shortage of petrol, posing huge problems for the citizens. The petrol shortage continued for several days now, has badly impacted the lives of the citizens.
The PM ordered Federal Petroleum Minister Naveed Qamar to take immediate steps to address the situation and restore the fuel supply. On the other hand, Chief Minister Shahbaz Sharif while expressing grave concern over the fuel shortage wrote a letter to the PM asking him to probe the matter.
The CM called upon the Centre to resolve the issue forthwith, as Punjabites are facing acute problems in carrying out their trade and routine activities. Shahbaz said that the Punjab government would not keep silent on the matter and would raise the issue on all forums.
Atta to be sold at Rs20/kg in Punjab ‘Bachat Bazars’
LAHORE: Pakistan Flour Mills Association (PFMA) has announced that Atta will be available at Rs20 a kilogram in Bachat Bazars across Punjab from tomorrow (Sunday).
Chairman PFMA Liaquat Ali Khan said that government will be supplying Atta in Bachat Bazars at Rs20 per kg while in open market the commodity will be made available at Rs21.25 a kilo.
He said 20 kg bag of Atta will be available at Rs400 in the open market.
According to sources, the Punjab government has released a subsidy of Rs4.5 billion for flour mills under Ramazan Package.
