Prices of pulses soar up to Rs550 in Pakistan

KARACHI: Prices of pulses in Karachi have soared to unprecedented levels, adding to the woes of the poor who are already struggling with rising costs of flour and sugar.

According to Hum News, masoor is now being sold at Rs250 per kilogram, while the price of moong lentils has reached Rs480 per kilogram.

Arhar lentils, which were sold at Rs500 per kilogram, have now surpassed Rs550 per kilogram.

The residents of Karachi, the country’s largest city, are troubled by the escalating prices, as they lament that even the affordability of lentils, a staple food for many, was now disappearing.

They said that there was no system to check the prices, which was contributing to the rising inflation.

Read more: Weekly inflation drops in Pakistan

In its budget for 2022-23, the government projected an inflation rate of 11.5% for the next fiscal year, which is higher than the previous year’s average of 8.6%.

The government also set a tax collection target of Rs7 trillion for the Federal Board of Revenue (FBR), which is 24% higher than the revised estimate of Rs5.7 trillion for the outgoing fiscal year.

The budget also proposed a 2% additional tax on tax filers earning Rs30 million or more annually.