Rise in inflation causes shoot up of timber, coal by 25%

By Syed Umarullah Hussaini - Web Editor

24th November, 2019

With the increase in cold temperatures in Multan, the load shedding of gas has increased which has resulted in shoot up of timber and coal by 25% by the toll owners.

According to the details, load-shedding in various areas is on rise, causing domestic consumers to buy firewood for burning stoves and commercial consumer industries.

The demand for timber and coal has increased, toll owners have increased the prices by Rs200 to 300.

The price per piece of wood in wood market is Rs600 while coal is being charged up to Rs2,000.

On the other hand, toll owners said that the price increase are not self-made, but are a result of rising inflation.

Earlier, the price of 24 karat gold witnessed decrease by Rs50 in the local markets with Rs 350 per tola gold and Rs 300 as per 10 grams.

According to the details, Yellow metal was traded at Rs 85, 850 per tola, against the last closing of 73, 603 per tola the previous day, Karachi Sarafa Association.

The Gold prices decreased after declined in prices at the international markets.

According to the businessmen, per ounce price of Gold has fallen to $1469 after decrease of $ seven Dollars in the international markets.

Last week, 24 Karat gold was trading at Rs 86,200 per tola, against the last closing of Rs 86,450 per tola the previous day.

The price of 10 gram gold also declined by Rs214 to Rs73903 against Rs 74,117 during the previous day.

The price of silver remained stable and was traded at Rs 1000 per tola and that of 10 gram silver was traded at Rs 857.34.

In international market, the price of per ounce gold decreased by $3 and was traded at $ 1466 against closing of $ 1463 on last trading day.


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