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PR-/61
Shaban 21, 1439 A.H.
May 08, 2018

Muffasar Malik concerned over soaring prices on arrival of Ramazan
- demands stringent action against profiteers, hoarders

KARACHI: President of the Karachi Chamber of Commerce & Industry (KCCI), Muffasar Atta Malik, while expressing deep concern over soaring prices of many household commodities on arrival of Ramazan ul Mubarak, urged the Sindh government and Karachi Municipal Corporation to take stringent action against those profiteers and hoarders who are responsible for looting the masses and creating a situation in which many commodities largely being used during Sehri and Iftaar have gone beyond the reach of the public, particularly the poor segment of society.In a statement issued, President KCCI noted that prices of many household commodities, fruits and vegetables etc. have been fearlessly raised by vendors due to lack of efficient price control mechanism, resulting in further intensifying the hardships being faced by the poor masses. “A large number of citizens have been complaining that the administration at district level have totally lost control over commodity prices, profiteering and hoarding”, he added.Globally, President KCCI said, prices of various commodities are immediately reduced and special offers/ discounts are given to welcome the holy month of Ramazan ul Mubarak but unfortunately, in Pakistan, the greedy profiteers immediately raise prices of kitchen products to get maximum profits and hoarders create artificial shortages.

President KCCI mentioned that although Price Lists are regularly issued by KMC but no shopkeeper bothers to adhere the prices quoted in these lists and they continue to overcharge the customers without any kind of fear. “To deal with this issue, I would like to recommend that special inspection teams comprising honest officers should be deployed at all markets in liaison with relevant market associations whereas complaint centers should also be established to effectively monitor prices, promptly respond to any complaint and indiscriminate action must be taken against profiteers and hoarders by imposing fines and sending them to jail.Muffasar Malik stressed that all concerned departments of Sindh government and KMC should monitor commodities’ prices, particularly fruits, vegetables and other important kitchen items on daily basis and no one should be allowed to exploit the public. “Strategies should be devised to provide some relief to common man who is already overburdened”, he added