Likely hike in prices of essential items in Ramazan: Govt intervention sought to curb market manipulation

KARACHI: The Pakistan Business Forum (PBF) has written to Prime Minister Shehbaz Sharif, expressing grave concern over the likely hike in prices of essential commodities during the holy month of Ramazan.

PBF President Khawaja Mehboob ur Rehman, in his letter, called for immediate government intervention to curb market manipulation and hoarding, which have made it increasingly difficult for ordinary citizens to afford basic necessities.

Ramazan, a time for reflection, charity, and unity, has traditionally been a period of solidarity, but in recent years, the situation in Pakistan has sharply deviated from this spirit. The prices of essential items, rather than falling as they often do in developed countries during Ramazan to alleviate the financial strain on citizens, have surged. One particularly notable increase is the recent rise in sugar prices, which has jumped by Rs25 per kilogram.

According to the PBF, this price hike is not a result of natural market forces but is being manipulated by sugar hoarders, especially in Punjab, who are deliberately creating shortages to drive up prices. This phenomenon has been exacerbated by a lack of effective monitoring and enforcement, leaving everyday consumers to bear the brunt.

In the letter, Rehman urged the federal and provincial governments to act swiftly to regulate the prices of essential commodities and ensure they are sold at government-mandated rates. He also emphasized the importance of strengthening market monitoring mechanisms and enforcing regulations to prevent hoarding.

“Even if subsidies are provided, the government must ensure that rates remain in line with its mandates,” Rehman stated, advocating for enhanced oversight from market committees to protect the public with full powers.

He also called on Prime Minister Sharif to issue strict directives to all Chief Secretaries across the country to enforce compliance with government price controls during Ramadan.

The PBF’s call highlights the growing frustrations among Pakistan’s business community and the general public, who are grappling with rising costs during a time that should ideally bring relief and unity.

Rehman concluded his letter by expressing confidence that Prime Minister Sharif would take the necessary steps to safeguard the interests of the people during the sacred month.

In a time of economic strain, the PBF’s plea for swift action underscores the pressing need for transparent regulation and accountability in Pakistan’s markets, especially when it comes to the essential goods that every citizen relies on.

Copyright Business Recorder, 2025