Pakistan Business Forum demands govt keep hoarding in check before Ramazan

Seeking subsidies on basic necessities and the implementation of government-fixed prices, the Pakistan Business Forum (PBF) has demanded the government control hoarding and profiteering before Ramazan.

PBF President Khawaja Mehboobur Rehman has written a letter to Prime Minister Shehbaz Sharif in this regard, requesting strict action against hoarders and market manipulators. “I am writing on behalf of the [PBF] to draw your attention to the growing concerns of market manipulation and hoarding of essential commodities during Ramazan.

“As you are aware, Ramazan is a time of reflection, charity and unity for all Muslims. However, over the past few years, the situation in Pakistan has been far from what it should be. The prices of essential items have risen sharply during this period, making it difficult for the average citizen to afford basic necessities,” he wrote.

The first day of the Islamic month is likely to fall on February 28 or March 1, depending on the sighting of the moon. Mehboob said contrary to developed countries where the prices of essential items often drop during Ramazan to provide relief to the people, Pakistan had unfortunately seen the opposite trend.

A notable example was the recent increase in the price of sugar, “which has risen by Rs25 per kilogramme”, he said. The PBF president said the surge in prices was being artificially manipulated by certain hoarders, particularly in Punjab, who deliberately created shortages to increase demand and prices.

The business forum sought strict action to regulate prices of essential items, “ensuring they are sold at government-mandated rates”. It was also crucial that the government strengthened the monitoring mechanisms to prevent hoarding and market manipulation, it added.

“We urge your good office to issue strict instructions to all chief secretaries to ensure compliance with government prices and to enforce regulations on essential items during Ramadan. Such measures will go a long way in relieving the financial burden on the people of Pakistan, especially in these challenging times,” the PBF president demanded.