Essential commodities: Price hike hurts living standards of people: Mian Zahid

KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said the price of everything is getting out of control taking a toll on the masses.

He said that the prices of flour, sugar, meat, poultry, milk, ghee, vegetables and other items are increasing rapidly therefore their supply should be increased and hoarding should be discouraged so that prices can come down and masses can get some relief. Mian Zahid Hussain said that inflation and unannounced hike in power bills has jolted the standard of living of the masses and a good number of people are consuming substandard items.

He said that inflation was already resulting in sleepless nights and now the dollar is gaining value. A dollar that was available for Rs152 in May is being sold at Rs170 now as all the steps to contain the fall of the rupee has remained fruitless. Hike in the value of the dollar has reversed many gains including tax breaks on ghee, iron, steel and other sectors while the price of many items including that used in the construction are increasing almost daily which has resulted in panic.

Copyright Business Recorder, 2021