Commerce Minister Jam Kamal Khan said the ban on onion exports will not be extended after Ramazan after exporters requested a 15-day extension.
The minister said this following a meeting with the Pakistan Business Council (PBC). He clarified that the ban was just for the Holy Month of Ramazan and no extension was on the cards.
After India’s ban on onion exports last year, local onion prices in Pakistan skyrocketed as exporters took full advantage of the situation in exchange for high profits. Later, exports were banned in March 2024 to help control local rates but it failed and consumers have not seen any relief so far.
Traders in Karachi are charging consumers up to Rs. 300 per kg for onions.
The commerce minister assured that the government is focused on boosting confidence in the business community. Measures to address challenges faced by businessmen and industrialists are being actively pursued. He further said there were plans to constitute a dedicated authority for border control mechanisms.
Meanwhile, retailers have increased the price of live broiler birds significantly as Eid-ul-Fitr approaches, while local gold rates have reached an all-time high of Rs. 245,700 per tola after a massive surge globally.
