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Milk prices in Pakistan soar to Rs 140 per litre, costlier than petrol, diesel

BusinessToday.In     September 11, 2019

Milk prices have shot through the roof in Pakistan on account of Muharram. A litre of milk sells at Rs 140 as against the retail price of Rs Rs 94 per litre, a shocking 49 per cent jump that is pinching common Pakistani. The country's media reported on Wednesday that milk is being sold for as high as Rs 140 a litre in Karachi and some parts of the Sindh Province.

Muharram is observed by Muslims with abstinence and prayers to mourn the martyrdom of Hazrat Imam Hussain in the battle of Karbala in the 7th century. It is considered one of the sacred months of the Islamic lunar calendar. During this festival, Sabeels (stalls) are set up in different parts of the city to offer milk, juices and cold water to the participants of the holy month's processions. Due to this, the demand for milk has shot up, and retailers are reportedly profiteering.

Interestingly, petrol and diesel come cheaper in the country currently. Petrol was selling Rs 113 per litre, while diesel was Rs 91 per litre, just two days ago, IANS reported.

"Milk is being sold between Rs 120 and Rs 140 across the city of Karachi due to the sharp increase in demand," a shopkeeper told the news agency. Residents even claim that they have never before seen such an extreme price hike of milk due to the festival. "We set up milk Sabeel every year and simply didn't want to skip it this year due to a hike in milk prices," said one local who set up a stall.

According to reports, Karachi Commissioner Iftikhar Shallwani, who is responsible for controlling the price of milk, is allegedly yet to do something about the exorbitant rates.

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