Pakistan bans export of bananas and onions to stabilise prices

WEB DESK: In an effort to curb the escalating prices of essential food items during the holy month of Ramadan, the government has taken decisive action by imposing a ban on the export of bananas and onions.

Chief Secretary Punjab, Zahid Akhtar Zaman, highlighted the urgency of the situation in a letter to the government, advocating for a comprehensive restriction on the export of these commodities.

Consequently, the government has implemented a ban on the export of bananas to Afghanistan and Iran, while also imposing restrictions on onion producers and prohibiting sales to Gulf countries.

This strategic move aims to ensure that the domestic market remains stable and that the nation is spared from the adverse effects of soaring prices.

The severity of the price surge was underscored by the recent release of the weekly inflation figures by the Pakistan Bureau of Statistics (PBS) for the week ending February 29, 2024.

The data revealed a notable 5.25 per cent increase in the price of bananas and a 2.87 per cent rise in the price of onions, further emphasising the necessity of these export restrictions.

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