Pakistan govt has failed to control soaring food prices in last 3 years, says report

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Karachi (Pakistan), August 20 (ANI): Imran Khan-led Pakistan government has failed to fulfill the basic needs of people of the country as it continues to ignore the soaring food prices for the last three years.

People slammed Pakistan Tehreek-e-Insaf (PTI) government for not taking any effective steps to reduce food prices. They are only confined to weekly meetings of the National Price Monitoring Committee (NPMC) rather than taking any practical steps, the Dawn reported.
According to the reports, the Pakistan government has not even stopped food sector investors to middle man, retailers, wholesalers and mafias who were responsible for pushing up the rates to the maximum limit and it has not created fear among of facing any serious consequences in case of any wrongdoings.

Tahir Abbas, research head at Arif Habib Ltd (AHL), said Economic Coordination Committee (ECC) in October 2018 allowed the export of one million tonnes of sugar which led to serious shortages in the domestic market.

Abbas further said that the consumers also suffered due to a shortage of wheat supplies.

Head of Research at Pak-Kuwait Investment, Samiullah Tariq, said that the prices were affected by global factors and the exchange rate.

Samiullah said that the prices have risen significantly owing to an increase in global commodity prices.

Commodity expert and Convener of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Pulses Anis Majeed said the government during the NPMC meeting only looked at the top instead of ground realities.

He further alleged that the wheat crop was taken to other places for hoarding purposes instead of coming into the city.

Karachi Retailers Grocers Association (KRGA) General Secretary Farid Qureishi said the prices were soaring for the last three years even at the utility stores.

The confectionery, bakery and powdered milk manufactures are also increasing the prices of the items and reducing the weight of their products, the Dawn reported.

He said that the government had never cared to take manufacturers to task for artificial price hikes in the name of rising exchange rate parity and raw material costs.

Farid further said that the government was unable to stop the mafias who are still in the market and manipulating the prices of essential goods. (ANI)
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