KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) expressed concerns over across the board inflation ahead of the holy month of Ramazan, a statement said on Monday.
KCCI President Muhammad Idrees in a statement appealed Chief Minister Sindh Syed Murad Ali Shah to immediately call a meeting of Price Control Committee so that effective strategies could be devised to control the sky-rocketing prices of most of the household products and commodities.
“We are fearing that Karachiites are going to face another severe wave of inflation as profiteers and hoarders have started their illegal activities to maximise profitability by raising prices and creating artificial shortages of various household products and commodities,” he said.
Idrees pointed out that prices of most of the household goods and commodities have been raised by the profit-hungry shopkeepers who give an excuse that these have been raised due to the exorbitant hike in the petroleum prices and imposition of taxes.
“In addition to taking strenuous action against hoarders, the government must also take strictest action against profiteers who are fearlessly looting the poor masses due to weak mechanisms for enforcement of rates,” he said.
There was a time when prices of various commodities were raised in months but nowadays, these are being raised within a matter of days due to bad governance.
“Devising an effective price control mechanism carrying the final rates along with profit margin of each and every single household product along with its implementation across-the-board has become inevitable,” he stressed, adding that committees can be formed for this purpose in which representation must also be given to markets’ association.
The KCCI president was of the opinion that although there was an impact of rising petroleum prices, it has been observed that many shopkeepers simply increase the prices of essential commodities out of their own will and raise them which is highly unfair.
“Various cases have been reported to the KCCI wherein the price lists of the Commissioner’s Office were being completely ignored not only by shopkeepers but also by some of the well-known departmental stores.”
“Hence, the implementation strategy for price control must be revisited and effectively enforced so the flagrant looting could be brought to an end,” Idress added.
He said that although the Commissioner Karachi has directed Deputy Commissioners of all districts to take every possible administrative measure to stabilise the prices of essential commodities, it seems that all the DCs have not bothered to pay any attention.
He hoped that the Chief Minister Sindh takes up this matter at the earliest by immediately summoning a meeting of the Price Control Committee which must be attended by all stakeholders so that a proper plan of action could be finalised and implemented on a war-footing basis to provide relief to the poor citizens.
