Improve supply to control prices: ICCI

An improved supply system of vegetable and fruit from farm to the wholesale market can help keep prices stable rather than imposing fines on pushcart vendors, Islamabad Chamber of Commerce and Industry (ICCI) said on Saturday.

In the greater interest of the people, the Islamabad Market Committee should focus on streamlining the supply system to bring down prices of daily use items, a statement said.

People are facing great difficulties due to high inflation, ICCI President Sardar Yasir Ilyas Khan said and emphasized the need to improve supply system in order to stabilise prices of daily used goods.

The main cause of price hike is disparity in demand and supply, if the supply was commodity was enough to meet the demand, the price will remain stable, Yasir said explaining simple law of economics to Islamabad Market Committee Chairman Rosh Dil Khan Hoti.

Hoti was accompanied by Capital Development Authority (CDA) Metropolitan Administration Director Ali Asghar and Additional Deputy Commissioner Rana Waqas. Yasir said imposition of fines or penalties on vendors ad shopkeepers will not help reduce inflation, therefore, efforts should be intensified to streamline the supply and delivery systems.

Published in The Express Tribune, December 27^th, 2020.