ISLAMABAD: Islamabad Chamber of Commerce & Industry (ICCI) President Ahmed Hassan Moughal on Saturday asked the Islamabad Capital Territory (ICT) administration to reactivate price control committees in markets to keep the prices at reasonable level and control inflation in view of the forthcoming Ramzan-ul-Mubarak.
He also called constitution of the Islamabad Market Committee with representation of ICCI so that joint efforts could be made to keep prices from further hike.
The ICCI president, in a statement. said the ICT administration often imposed heavy fines on shopkeepers to control prices, which was not a sustainable solution.
He said one of the main reasons of price hike was shortage of goods in markets due to supply chain issues. He urged the administration to take measures to ensure smooth supply of goods from production points to markets as timely supply of goods in markets would help in reducing their prices.
He also urged the government for taking urgent remedial measures to bring down inflation. The rising inflation always resulted into reduced purchasing power of the people that caused low purchasing and further slump in business activities. Therefore, controlling inflation was very important for smooth business activities, he added.
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