Chicken Prices Soar in Punjab Amid Inflation

In Punjab, Pakistan, chicken prices have surged by PKR 37 per kilogram, now costing PKR 421 per kilogram. Poultry dealers attribute this increase to higher taxes. This comes after a previous drop in May when prices fell by PKR 39 per kilogram in Lahore’s retail market.

Chief Minister Maryam Nawaz Takes Action

Punjab Chief Minister Maryam Nawaz has pledged to take action against those inflating chicken prices. She has initiated measures against poultry farmers and traders, including the requisition of stock data to investigate the sudden price hike.

Inflation on the Rise

Following the introduction of the fiscal year 2024-25 budget, Pakistan has seen a notable rise in inflation. The weekly inflation rate has climbed by 1.28%, and the annual inflation rate has surged to 23.59%, according to the Pakistan Bureau of Statistics (PBS). Prices for 29 essential items have increased, including a 70.77% rise in tomato prices, a 10.57% rise in flour prices, and increases in fuel prices.

Economic Crisis and New Finance Bill

Pakistan is facing a deep economic crisis. The Consumer Price Index (CPI) inflation stood at 12.6% year-on-year in June 2024. The country’s parliament has recently passed a tax-heavy finance bill for the upcoming fiscal year amid ongoing negotiations for a new International Monetary Fund (IMF) bailout.