pakistan implements temporary ban on onion and banana exports to stabilize domestic prices
In a move to control rising prices and make sure people have affordable onions and bananas during Ramadan, the Pakistani government has decided to stop exporting these two Banana and onion items until April 15. This Decision was made by the Ministry of Commerce. This decision got approval from the newly formed federal cabinet.
Starting right away, and lasting until April 15, the export of bananas to Iran and onions to Afghanistan will be stopped or limited. This means that these fruits and vegetables won’t be sent to other countries for a short period. The government Believes this will help to keep prices in check and it will make sure there’s enough supply for People in Pakistan.
Read More: Indus Motor Company Temporarily Halts Production Due to Supply Chain Challenges
This Decision comes after the Pakistan Bureau of Statistics released information about the prices going up. In the week ending February 29, 2024, the cost of bananas increased by 5.25%, and onions went up by 2.87%. This means that onions were being sold at Rs280-300 per kg, and small-sized bananas were priced at Rs150, while large-sized ones were sold for Rs250-300 per dozen.
Read More: Gold Prices Hike In Pakistan
The government is stopping onions and bananas from being sent to other countries for a while. They want to make sure the prices don’t go too high, especially during holy month of Ramadan. This is a temporary plan to help people in Pakistan buy onions and bananas at lower prices during this important time. They just want to make sure everyone can afford these foods.