The federal government of Pakistan has banned the export of onions and bananas until April 15 to control prices in the domestic market. The move aims to ensure the availability of these items at reasonable prices during Ramadan. The decision comes after a notable increase in the prices of bananas and onions.
ISLAMABAD: The Pakistan federal government has imposed a ban on the export of onions and bananas till April 15 in efforts to curtail prices in the domestic market, ARY News reported on Tuesday.
In a bid to ensure the availability of onions and bananas at reasonable prices during Ramadan, the Ministry of Commerce notified the ban following approval of the newly formed federal cabinet.
Effective immediately and continuing until the conclusion of Ramadan (April 15), exports of bananas to Iran and onion to Afghanistan will be suspended or restricted. Meanwhile, amendments were introduced in the Export Policy Order 2022.
The upward trend became apparent when the Pakistan Bureau of Statistics (PBS) released the weekly inflation figures for the week ending February 29, 2024, which showed a 5.25% increase in the price of bananas and a 2.87% rise in the price of onions.
The onion was being sold at Rs280-300 per kg while fruit vendors demanded Rs150 for small-sized bananas and Rs250-300 per dozen for large sized.
Pakistan recently announced a ban on the export of bananas and onions, citing domestic shortages as the reason for this decision. This move has ignited a debate among experts and citizens alike, with concerns raised about the potential economic and social impacts. The ban has led to speculation about price fluctuations in the domestic market and implications for international trade relations. It also raises questions about the agricultural policies and practices that have led to this situation. As consumers and stakeholders ponder the implications, it is crucial to engage in a constructive dialogue to understand the motivations behind this export ban and to collectively explore sustainable solutions. The decision made by Pakistan’s authorities has undoubtedly sparked important conversations about food security, trade dynamics, and the interconnectedness of global agricultural markets. This ban could serve as a catalyst for deeper reflection and action towards ensuring a balanced and resilient food supply ecosystem.
Source: ARY NEWS
Summary:
Pakistan has imposed a ban on the export of bananas and onions until April 15 to address rising prices. The Ministry of Commerce initiated this measure to ensure availability at reasonable costs during Ramadan and to alleviate domestic market concerns. The ban affects exports to Iran and Afghanistan and will be in effect until April 15. Recent statistics indicated a significant increase in the prices of bananas and onions, prompting the government to take action. This step is part of amendments introduced in the Export Policy Order 2022, aiming to manage inflation and stabilize the market.
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