‘Imported products to become 40% more expensive in Pakistan’

[Kabira]

The devaluation of the rupee has forced traders to limit imports, which will eventually cause a rise in the price of imported items by 35 to 40%. But it won’t just be imported products that become more expensive; the price of local commodities is going to rise too.

This means that your imported cereal, jams, shampoos and body washes will all become more expensive.

The Karachi Wholesale Grocers Association’s (KWGA) patron-in-chief, Anis Majeed said that almost 50% of items are being imported, which includes daal (lentils).

Commodities with duties on them will become even more expensive, he told SAMAA TV’s on its show Naya Din on Monday. “There is 45% duty on milk powder, so we can expect that its price would rise more than other commodities,” Majeed added.

Related: Dollar rises to 150 against the Pakistani rupee

With the increase in the prices of petroleum and electricity, there will be a surge in the price of local products, the patron-in-chief said.

People can expect that their grocery shopping will cost 30% more in the coming months, he said. “If you spent Rs10,000 on groceries, you would now spend Rs13,000,” Majeed added. Moreover, the cost of transportation has caused the cost of vegetables and fruits to rise.

The dollar touched Rs150 in the open market on Friday. This is its highest-ever rate against the rupee.

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https://www.samaa.tv/money/2019/05/imported-products-to-become-40-more-expensive-in-pakistan/

 

[Norwegian]

The Karachi Wholesale Grocers Association’s (KWGA) patron-in-chief, Anis Majeed said that almost 50% of items are being imported, which includes daal (lentils).

Astaghfirullah. Shame on previous rulers who did nothing to expand country's productivity. Even lentils are imported.

 

[Kabira]

Its amazing what importers have done to Pakistan economy. It all started in Mushy era and continued with Nawaz/dar stupid policy of keeping rupee overvalued by spending billions of $ from reserves.

It will at least take 15 years to get our own local industry back on track unless someone again decide to control rupee value artificially.

 

[Norwegian]

It all started in Mushy era and continued with Nawaz/dar stupid policy of keeping rupee overvalued by spending billions of $ from reserves.

I see you have switched sides and going against PMLN. Well done.

 

[Kabira]

I see you have switched sides and going against PMLN. Well done.

They did some right and wrong. Overvalued rupee helped them politically by keeping prices imported items low.

 

[Norwegian]

Overvalued rupee helped them politically

So you admit PMLN sacrificed entire country's long term economy for their own selfish party interests?

 

[PakGuns]

Only consumer which is general public iz going to suffer,, cmon guys our industry is really shitless,, we can say by to any new era other than 70s and 125s ... lol... pathetic AF..

 

[Kabira]

So you admit PMLN sacrificed entire country's long term economy for their own selfish party interests?

PTI would likely do same but Pakistan don't have $$ to buy back rupee anymore. Pakistan run out of $$ in 4th year of N league which made them suffer politically. Average person on the street doesn't care why things are expensive. Government in 2023 will more then likely face even worst crisis then current one. Then IMF may even demand Pakistanis to bend over and f them literally.

 

[VCheng]

PTI would likely do same but Pakistan don't have $$ to buy back rupee anymore. Pakistan run out of $$ in 4th year of N league which made them suffer politically. Average person on the street doesn't care why things are expensive. Government in 2023 will more then likely face even worst crisis then current one. Then IMF may even demand Pakistanis to bend over and f them literally.

Those who get remittances will not be affected by the PKR devaluation.

 

[Kabira]

Those who get remittances will not be affected by the PKR devaluation.

Vast majority isn't dependent on remittances.

 

[VCheng]

Vast majority isn't dependent on remittances.

True, but there are more remittances flooding the system (leading to huge demand for imported goods) more than what the rest of Pakistan earns from exports. The FA is on record accepting that millions who earn in PKR will be thrust into poverty by the recent changes.

 

[Norwegian]

PTI would likely do same but Pakistan don't have $$ to buy back rupee anymore.

So PTI is not going to follow Dar's policy.

 

[VCheng]

So PTI is not going to follow Dar's policy.

There is simply no money to follow the fiscal policies of the past.

 

[Pakistansdefender]

Astaghfirullah. Shame on previous rulers who did nothing to expand country's productivity. Even lentils are imported.

Shame really..
In a country where we eat lentils we import from a country where lentil is not even a main source of food.. Simply shame.

 

[Indus Pakistan]

True, but there are more remittances flooding the system (leading to huge demand for imported goods) more than what the rest of Pakistan earns from exports. The FA is on record accepting that millions who earn in PKR will be thrust into poverty by the recent changes.

Pakistan is a remittance economy that relies on exporting people. I read somewhere that the actual remittances into Pakistan from the millions of ex-pats is north of $40 billion ~ good chunk of it coming through hawala. Once these dollars come in all of Pakistan comes up with contrived ways to grab some. This about sums Pakistan's economy.