Pakistan: Egg prices soar to 400 PKR per dozen in Lahore

The report added that onions are being sold for between 230 and 250 PKR per kg against the government's fixed rate of PKR 175 per kg.

Lahore: The price of eggs in Pakistan has soared to 400 Pakistani Rupees (PKR) per dozen in Punjab’s provincial capital of Lahore, ARY News reported, citing market sources on Sunday.

This comes as the local administration has failed to enforce the government rate list as the prices of most commodities are skyrocketing.

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The report added that onions are being sold for between 230 and 250 PKR per kg against the government’s fixed rate of PKR 175 per kg.

The price per dozen eggs has reached PKR 400 in Lahore, while chicken is being sold at PKR 615 per kg there, ARY News reported.

Last month, the Economic Coordination Committee (ECC) directed the National Price Monitoring Committee (NPMC) to continue regular coordination with the provincial governments for measures to ensure price stability and to check hoarding and profiteering.

The meeting of the cabinet committee was presided over by Caretaker Federal Minister for Finance, Revenue, and Economic Affairs, Shamshad Akhtar, ARY News reported citing the press statement issued by finance ministry.

Meanwhile, the total debt burden on Pakistan has risen to a whopping 63,399 trillion Pakistani Rupees (PKR) by the end of November last year in the financial year 2023-24, according to a report by ARY News.

Pakistan’s total debt increased by over 12.430 trillion PKR during the tenure of the PDM and the caretaker government. The overall debt burden surged to PKR 63.390 trillion including PKR 40.956 trillion in domestic loans and PKR 22.434 trillion in international loans.

Recently, a World Bank report stated that Pakistan’s economic development is limited to the elite which resulted in the country lagging behind its fellow countries in the wake of the economic crisis in Pakistan, Pak Vernacular Media reported.

World Bank Country Director for Pakistan, Najy Benhassine, noted that Pakistan’s economic model has become “ineffective” and said that poverty has started to increase again, the significant reduction in poverty in the past is resurfacing, the sentiment is growing towards changing the policy and that economic development in Pakistan is not sustainable.