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January 19, 2020

Traders support decision to curb hoarding, profiteering


January 19, 2020

Islamabad : The trading community supports the decision of Prime Minister Imran Khan to curb hoarding and profiteering to provide relief to the masses from price-hike, a business leader said Friday.

The decisions of the Prime Minister to increase grant through BISP and move to reduce the price of urea by Rs400 per bag will also provide relief to the masses, said Shahid Rasheed Butt former President ICCI.

He said that Government should initiate the process of new and effective legislation against profiteers and hoarders and consider setting up an effective Price Commission.

He noted that market mechanism is not working properly resulting in market imperfection helping producers earn undue profits while masses are facing unprecedented inflation.

Various interest groups are freely influencing prices to their advantage resulting in artificial price hike that has damaged the buying power of the masses and there seems no end to their miseries therefore strict actions must be taken.

Shahid Rasheed Butt said that controlling prices of essentials and services will result in healthy prices, it will reduce poverty in the country and all stakeholders should benefit from it.

He said that agriculture sector merits full attention as growers are not getting proper prices of their produce, masses are forced to pay very high prices while the major share of profit is going to middlemen.

The intermediaries are exploiting masses as well as growers due to weakness in the price control mechanism that is damaging the agriculture sector. Many disappointed growers have no option but to opt for migration which is burdening the infrastructure in cities and creating many other problems.

He said that the agriculture sector cannot be left to operate on its own as it has been hijacked by profiteers and hoarders.

APP adds: Workshops of B.Ed programs of Allama Iqbal Open University (AIOU) for autumn 2019 semester will start from Monday at all Tehsils of Rawalpindi region.

It was announced by Syed Zia ul Hasnain, Regional Director Rawalpindi Region on Saturday.

Students have been informed about the venue of workshop through letter and SMS.

Workshop will start at 2 p.m daily and there would be three-day workshop of each course.

Students may call to Rawalpindi Region on phone number 051 9334264, if not received letters or SMS.