Global Rice News

ISLAMABAD: To combat the skyrocketing prices of onions and prevent a shortage of this essential commodity, the caretaker federal government of Pakistan has announced new measures to control onion exports, according to a local news channel.

Under these measures, the government will introduce advance payment requirements for onion exports and establish a minimum export price for onions. These steps are aimed at curbing the escalation of onion prices and ensuring an adequate supply within the country.

The decision comes at a time when Pakistan is facing a significant increase in short-term inflation. In fact, inflation levels reached a staggering 43.16% in the week ending December 14. The rise in prices of pulses, rice, and vegetables has been identified as the primary driver of this inflationary pressure.

To address the economic challenges posed by rising inflation, the government’s decision to restrict onion exports is seen as a proactive measure to stabilize domestic prices and ensure a sufficient supply of this vital commodity. These measures are expected to alleviate the burden on consumers and contribute to managing overall inflation levels.

In addition to the curbs on onion exports, the government has introduced several other measures to tackle inflation across various sectors. These include setting a minimum export price for commodities and implementing advance payment requirements. These actions reflect the government’s commitment to maintaining economic stability and safeguarding the interests of the public in the face of economic challenges.

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