Miftah Ismail Warns of Possible Wheat Flour Price Increase in Coming Days

Islamabad: Former Finance Minister Miftah Ismail has warned that the price of wheat flour (atta) may increase in the coming days, raising concerns over rising inflation and economic pressure on the public.

Addressing a federal budget seminar organized by the Awam Pakistan Party (APP), Miftah Ismail said that the current Shehbaz Sharif-led government has increased annual borrowing by Rs 8,500 billion.

He stated that during the last four years, the government’s debt burden has risen sharply, compared to an average increase of around Rs 700 billion annually over the previous 75 years.

The former finance minister said that while the government claims macroeconomic stability, issues such as poverty, unemployment, and investment stagnation remain unresolved. He added that although the rupee has stabilized, ordinary citizens have not experienced any relief.

Miftah Ismail pointed out that exports and agricultural production, particularly wheat and cotton, have not improved. He noted that cotton output has dropped significantly, while wheat farmers have suffered due to unmet commitments and policy challenges.

He further warned that rising fertilizer prices and increasing agricultural costs are worsening conditions for farmers, and as a result, flour prices may increase in the near future.

Criticizing fiscal policies, he said tax collection targets have been significantly increased without providing real relief to the public. He also said that despite higher taxes, citizens continue to lack basic facilities such as water, electricity, and security.

Miftah Ismail stressed that Pakistan is generating more electricity than required, yet electricity remains expensive due to policy inefficiencies. He urged the government to focus on resolving existing economic issues rather than launching costly new projects.

He concluded that tax policy should reduce the burden on the common man and the government should first control its own expenditures before imposing additional taxes on the public, particularly salaried individuals who are already under financial pressure.