‘Profiteers, hoarders not giving relief to public’

Islamabad : Black sheep in the business community are behind an artificial price hike which should be dealt with an iron hand, a business leader said.

The prices of edible oil, pulses, tea, and many other things have crashed in the international market after pandemic but people in Pakistan have not seen any relief due to lust for the profits by businessmen, said Shahid Rasheed Butt, former President ICCI.

He said that the profiteers and hoarders are cashing in on declining international prices and a surge in demand in Pakistan due to coronavirus fears.

He noted that palm oil prices have come down by seventeen dollars per tonne in the international market but masses in Pakistan were not given any relief.

The price of tea has crashed by $230 per tonne with no impact locally. Likewise, the prices of pulses have also collapsed globally while prices of different varieties of pulses have increased by Rs20 to 50 per kg in Pakistan which is unjustified.

He said that the businessmen who are creating artificial shortages leading to panic buying are enemies of the public who should be hanged publically.

Shahid Rasheed Butt said that many businessmen have left their employees high and dry after closure of their businesses forgetting that their fortunes are built with the help of these people and that they are inviting the wrath of Allah Almighty.

Many goods transporters have not reduced fares after oil price reduction which should be noticed as it is stoking inflation across the country. He said that those who lost their lives to the virus should not be dubbed as dead but martyrs.