KARACHI:
The increase in prices of food commodities in the international market is a major reason behind the rising inflation in Pakistan. According to Finance Minister Shaukat Tarin, the prices of palm oil and soybean have risen in the world market — something that will affect the prices of other relevant products. Considering that Pakistan has now been importing wheat, sugar, cooking oil and ghee, the prices of these commodities are rising in the local market, making it difficult for many to afford them. And to add to that the Covid-19 pandemic has already affected the demand and supply chains.
The National Price Monitoring Committee, which is responsible for reviewing the prices of food items in the country, has directed the chief secretaries to ensure that wheat is available at appropriate rates in the local market in their respective provinces. The finance minister has also directed the authorities to ensure availability of sugar in the market as well as its sale at the government-fixed prices. Many political leaders have expressed concern over the sharp inflation in Pakistan.
A more pressing concern is that the rising inflation has provided leverage to mafias who have hoarded commodities and are selling them at higher prices. There is also an increased likelihood of the products being sold in the black market. It is imperative that the relevant authorities take steps to control the prices of commodities and ensure their availability across the country in the required quantity.
Imran Badeer
Turbat Kech
Published in The Express Tribune, September 19th, 2021.
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