Official price list unchanged for three years

Traders say rates escalated manifold during the period

KARACHI:

The Sindh government and city administration have been unable to release the commodities and grocery items price list which has remained unchanged since 2019.

However, during this period, the falling rupee, coupled with rising international freight rates, has caused delivery costs and prices to increase two or three fold.

According to Karachi Wholesale Grocers Group President Abdul Rauf Ibrahim, wholesale prices of all commodities have risen sharply.

He added that prices are skyrocketing especially during the February/March period.

He said that the conflict between Russia and Ukraine has also made the availability of different commodities scarce. Further depreciation of the rupee will make imported items more expensive.

"At present, white chickpea is being sold at a wholesale price of over Rs250. The price of pulses is also rising sharply."

Abdul Rauf Ibrahim continued that imports of commodities were being affected due to the disruption in the international supply chain and the country's largest wholesale market is not stocked for more than ten days. "Commodity imports are being affected by the Russia-Ukraine conflict as well as the problems of the shipping industry," he said.

"The one-month consignment is coming in three months and there are difficulties in getting food and commodities globally."

He said that the effects of this situation were also being felt in Pakistan and would only intensify in the near future.

Ibrahim stated that relevant institutions and governments are turning a blind eye to this situation. "Meetings are being held for show and the official price list has been maintained at the same level for three years.

It is not keeping pace with the market trend which is causing troubles for shopkeepers," the group president bemoaned.

He urged the Sindh government and the city administration to immediately update the price list of commodities and grocery items in terms of market prices and review the rates on the basis of fifteen days.

"Establish a mechanism to monitor the prices of locally-produced commodities so that the people can be relieved of inflation and the economic crisis."

Published in The Express Tribune, March 25^th, 2022.