Pakistan’s Rising Inflation
By the Editor

OVER the years, consumers in Pakistan have been resenting unwarranted and sharp rise in the price index of essential items of daily use.

Of-course, there are reasons to believe that some sections of the industry have been behaving like interest group to manipulate prices of different items.

With this perspective, it is encouraging to note that the Government has, at last, realized seriousness of the situation and started taking measures to curb such trends.

A high-level committee under the chairmanship of the Prime Minister has been set up to review causes of fluctuation in prices of essential items and take immediate measures to deal with undesirable situation.

We feel optimistic that the committee, which includes all those who matter in the economic decision making, shall not restrict itself to mere review of the price situation as the exercise is already being carried out regularly by the ECC but with little impact on the ground situation.

Leave consumers aside, even ECC felt in its last meeting that there was no justification for rise in prices of wheat and flour in the presence of a bumper crop and adequate stocks.
It also noted that some influential people were hoarding the commodity even in premises of some textile mills and petrol pumps.

Almost same is the case with pulses, rice and sugar but the administrative machinery seems to be feeble.

Hence, the question arises as to why strict action has not being taken – so far – against those who are fleecing the general public at their own will and personal curiosity.

The authorities are well aware that prices of edible oil have reduced considerably in the international market but industrialists are not willing to pass on the relief to the consumer.

The price-hike would touch new heights if any decision is taken in favour of upward revision of prices of petroleum products due to their non-stop increase in the world market, compounding difficulties for consumers.

Amid these circumstances, the task before the newly enunciated committee should not mere be the revision of the prices and knee-jerk reaction but firming up a foolproof strategy to safeguard interests of the consumer – who deserve a swift relief – by all norms of ethics and equality.●