20 kg bag of flour price likely to go up by Rs 90 : PFMA
Pakistan Flour Mills Association (PFMA) on Sunday hinted at increasing the flour prices due to the tax. The price of 20 kg bag of flour is likely to go up by Rs 90.
In the federal budget, the government had increased the turnover tax on wheat from 0.25 percent to 1.25 percent while the sales tax on flour bran had been increased from 7 percent to 17 percent with effect from July 1.
In a statement issued on Sunday, Chairman Punjab Flour Mills Association Asim Raza said that the price of a 20 kg bag of flour would increase from Rs 1,050 to Rs 1,144.
Addressing an emergency press conference, he said that he would inform the government about the details of the increase in flour prices. If the turnover tax is not withdrawn, the prices of flour will go up in July and this will be an injustice to the people.