The citizens of Karachi facing inflation are bracing for expected increases in the prices of chicken meat and eggs in the coming days.
Market sources indicate that the price of chicken meat is expected to rise by R.s 100 to R.s 150 per kilogram. With the current price at R.s 480 per kg, this would result in a new range of R.s 580 to R.s 630 per kg. Similarly, the price of eggs is projected to increase by R.s 50 to R.s 70 per dozen, from the current R.s 240 per dozen to potentially R.s 290 to R.s 310 per dozen.
The expected price increase comes after the Senate Standing Committee on Finance backed a decision to eliminate tax exemptions on chicken feed. At the committee meeting, officials from the Federal Board of Revenue (FBR) disclosed the abolishment of the 10 percent tax exemption on chicken feed. This forms part of a larger initiative to impose a 10 percent sales tax on livestock feed, including feed for cows and buffaloes, aiming to generate an extra Rs 47 billion in sales tax revenue.
Removing these tax exemptions aims to increase government revenue but also implies higher production costs for poultry farmers. These increased costs are expected to be passed on to consumers, leading to the anticipated rise in chicken and egg prices.
The imminent price hike has left many residents of Karachi concerned about affording essential food items. With the already high cost of living, the added expense of pricier chicken and eggs will further strain household budgets.
