Egg prices hit skyrocketing heights in Pakistan, Lahore witnesses soaring Rs 400 per dozen

Egg Prices in Pakistan: The price of eggs in Lahore has surged to a staggering 400 Pakistani Rupees (PKR) per dozen, as reported by ARY News. Despite government rate lists, the local administration faces challenges in controlling escalating prices, with onions and chicken also experiencing notable increases.

Price Surge Amid Enforcement Challenges

In the provincial capital of Punjab, Lahore, the cost of eggs has reached an unprecedented high of PKR 400 per dozen. Market sources reveal that the local administration's struggle to enforce government rate lists has led to soaring prices across various commodities, with onions being sold between 230 and 250 PKR per kg, surpassing the fixed rate of PKR 175 per kg.

Economic Coordination Committee's Intervention

Last month, the Economic Coordination Committee (ECC) directed the National Price Monitoring Committee (NPMC) to collaborate with provincial governments actively. The aim is to implement measures ensuring price stability while combating hoarding and profiteering. The meeting, chaired by Caretaker Federal Minister Shamshad Akhtar, focused on strategies to address the rising cost of essential goods.

Mounting Debt Challenges Pakistan's Economy

Simultaneously, Pakistan faces economic challenges, with its total debt reaching a staggering 63,399 trillion PKR by November 2023. During the tenure of the PDM and the caretaker government, the debt burden surged by over 12.430 trillion PKR. The accumulated debt includes 40.956 trillion PKR in domestic loans and 22.434 trillion PKR in international loans.

World Bank's Concerns Over Economic Model

A recent World Bank report highlighted concerns about Pakistan's economic development, stating that the benefits are primarily reaped by the elite. The current economic model is deemed "ineffective," leading to increased poverty. The report urges a shift in policy to ensure sustainable economic development for the entire nation.

As Lahore grapples with soaring egg prices, the broader economic challenges faced by Pakistan underscore the need for comprehensive measures to ensure affordability and stability.