Worsening flood situation: UBG suggests action against hoarders, profiteers

KARACHI: Zubair Tufail, President of the United Business Group (UBG) has urged the federal and provincial governments to take strict action against hoarders and profiteers amid the worsening flood situation in the country.

Zubair Tufail expressed deep concern over the impending flood threat to Sindh and called for immediate preventive measures to safeguard lives and property. “Considering the devastation caused by recent floods in Punjab and Khyber Pakhtunkhwa, the Sindh government must take urgent steps to mitigate potential damage,” he said.

He warned that the second major flood wave from India has entered River Chenab, resulting in high-level flooding in the Chenab, Ravi, and Sutlej rivers. “After wreaking havoc in Punjab and KP, the floodwaters are now heading towards Sindh,” he added.

Tufail highlighted that Pakistan is one of the countries most vulnerable to climate change impacts, with changing weather patterns posing a major threat to national development. He noted that monsoon systems are currently moving toward south-eastern Sindh, and extremely high flood levels are expected in the Indus River within the next two to three days.

“The Sindh government must act swiftly to relocate residents from vulnerable areas to safer zones to prevent large-scale losses,” he stressed.

Referring to the agricultural damage already caused by the floods, Tufail said that vast tracts of land under cultivation—particularly cotton, vegetables, and fruit crops—have been destroyed. “Accurate estimates of the damage can only be made once the floodwaters recede, but hoarders are already exploiting the situation by raising prices of essential items like vegetables,” he said.

According to Tufail, over 30,000 to 35,000 villages have been inundated, and standing crops on 2 to 2.5 million acres have been ruined. He warned that the destruction of crops, wheat stocks, livestock, and poultry farms could lead to a 30% to 50% increase in food prices.

He called on the authorities to strictly monitor market activities to prevent hoarding and profiteering of food items—especially grains and vegetables—during the crisis. “Unscrupulous elements are trying to create artificial shortages to boost profits. The government must foil their attempts and ensure stable supplies for the public,” he concluded.

Copyright Business Recorder, 2025