Currently, milk and meat prices are fixed by district administration under Price Control and Prevention of Price Profiting and Hoarding Act, 1977. The government of Punjab took a $300 million loan from the World Bank in the name of Strengthening Markets for Agriculture and Rural Transformation (SMART) pro- gramme. The committee had recommended to immediately de-cap milk and meat prices. The increase in milk and meat prices as a result of de-capping could stoke in- flation, which is already increasing. The World Bank has linked the disbursement of $70 million loan with reduction in wheat stocks to just two million tons.

Source: The Express Tribune October 04, 2020 05:48 UTC