The Pakistani government has implemented a temporary export ban on onions and bananas effective immediately, set to last until April 15, in an effort to control food prices ahead of Ramadan. This measure is intended to ensure the availability and affordability of these essential food items within the domestic market, particularly during the holy month when food consumption increases. The ban specifically targets the export of bananas to Iran and onions to Afghanistan, reflecting the government's strategic approach to prevent a spike in prices and address inflationary pressures that have recently surged.
Recent statistics from the Pakistan Bureau of Statistics highlight the urgent need for such measures, revealing a significant rise in the prices of these commodities. Over the past week, inflation for bananas soared by 5.25%, while onions saw an increase of 2.87%. Consequently, onion prices have reached Rs280-300 per kg and bananas are being sold at Rs150-250 per dozen, depending on their size. This escalation in prices not only places a burden on consumers but also underscores the challenges in managing inflation and ensuring the availability of basic food items.
In response to the inflationary trend and to safeguard consumer interests during Ramadan, the Pakistani government, led by Prime Minister Shehbaz Sharif, has established a committee dedicated to monitoring and regulating food prices. This move is part of a broader strategy aimed at achieving food security and stabilizing prices, demonstrating the government's commitment to taking both immediate and long-term actions. By imposing the export ban and introducing regulatory measures, the government seeks to prevent price gouging and ensure that essential commodities remain accessible to all segments of the population.