(March 28-2023)Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Tuesday said influential profiteers have set new records of looting with the arrival of Ramadan.
The prices of essential commodities were already skyrocketing, but with the advent of Ramadan, a new wave of inflation has come across the country, he said.
Shahid Rasheed Butt said that the prices of flour, rice, pulses, and various types of vegetables have been increased and the price of fruits has been increased by two to four hundred percent taking a toll on the masses facing unprecedented inflation.
The continued increase in the price of necessities proves the weakness or collusion of the administration, he observed.
The business leader said that the majority of the people are longing for feeding their families while ruthless profiteers have made the current Ramadan the most expensive month in the history of the country.
Despite the plunder of hoarders, no meaningful action is being taken against them which can provide some relief to the masses.
Worried by the worst inflation and insufficient income, people are forced to limit their purchases during Ramadan as it becomes impossible for them to meet their expenses, he observed.
Most of the responsibility for the increase in prices of necessities and other items lies with hoarders and big suppliers but common shopkeepers are targeted which is a fruitless exercise.
The decisions regarding price hikes are made by those who keep themselves behind the scenes and always escape an action because of their political connections.
If the government wants to control the prices it will have to bring hoarders and big brokers to the book, he remarked.
Shahid Rashid Butt said that if all the provincial governments form special teams and take action against the influential hoarders the prices will fall immediately but the politicians will not let it happen.
