Pakistan Business Forum urges government to control hoarding ahead of Ramadan
Prices have seen a significant increase in essential items, as reported by the president of the Pakistan Business Forum (PBF). The PBF has voiced concerns over the sudden surge in prices and the need for government intervention to regulate the cost of basic necessities. Ramadan, a sacred time for Muslims that centers around reflection, charity, and unity, should not be overshadowed by economic difficulties faced by citizens due to inflated prices of consumer goods. The president, in a letter to Prime Minister Shehbaz Sharif, emphasized the importance of addressing the issue of hoarding and market manipulation before the arrival of Ramadan.
Khawaja Mehboob ur Rehman, the president of the PBF, highlighted the discrepancy observed in Pakistan during Ramadan compared to other developed countries. In many developed nations, prices of essential items drop during this period to alleviate financial strain on the population. However, in Pakistan, prices tend to rise, resulting in additional burden on the citizens. For instance, the recent increase in sugar prices by Rs25 per kilogram is a clear indicator of the issue at hand. The surge in prices is being artificially engineered by certain entities involved in hoarding and creating artificial shortages to amplify demand and subsequently inflate prices.
The PBF is calling for the enforcement of government-set prices for essential items to ensure the availability of affordable consumer goods. Strengthening monitoring and regulatory mechanisms is crucial in curbing hoarding practices and market manipulation. By implementing strict measures against those violating price regulations, the government can help alleviate financial pressures on the Pakistani population, especially during these challenging times.
The aim is to guarantee that essential commodities are sold at rates mandated by the government, ensuring that the general public has access to these items at affordable costs. It is imperative for the government to issue directives to chief secretaries for the enforcement of pricing regulations on essential goods during Ramadan. This proactive approach will assist in preventing exorbitant price hikes and maintaining stability in the market, fostering a more manageable economic environment for the people of Pakistan.
As the country prepares for the beginning of the Islamic month, scheduled to commence on February 28 or March 1 depending on the moon sighting, the PBF’s call for immediate action to address price manipulation and hoarding is critical. By controlling these factors before the onset of Ramadan, the government can ensure that citizens can observe the holy month without the added stress of economic strain due to inflated prices. The president of the PBF stresses the urgency of intervention to safeguard the financial well-being of the people and uphold the spirit of Ramadan as a time of reflection, generosity, and solidarity.
