Business community leader condemns ‘artificial’ price hike

KARACHI: The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, Mian Zahid Hussain said that people are being robbed through artificial price hikes as usual in the blessed month, which should be stopped.

He said that inflation has been a major problem for the past several years, ruining people’s standard of living. However, he said, inflation crosses all limits during Ramadan because the administrative mechanism to control prices has become ineffective.

However he welcomed the Prime Minister’s Rs 20 billion Ramadan relief package.

He said that the profiteering mafia needs to be punished harshly as it is robbing poor masses in the holy month of Ramadan. He said that the people are tired of paying the high price of inflation and do not have the strength to bear the situation. He said the masses should be given relief so that they can breathe a sigh of relief. He added that profiteering is on the rise this year, too, and no one can stop these elements.

Mian Zahid Hussain said that the central and provincial governments keep making loud claims about ending inflation. Still, the people do not get any relief. With the arrival of the holy month, the profiteers have become active. The prices of essential commodities are skyrocketing, and the problems of the middle and poor class continuously increase. He noted that the grip of profiteers and hoarders has strengthened in the markets across the country, and the inflation rate is continuously increasing. The retail and wholesale prices of many essential items are growing.

Mian Zahid Hussain said that, like every year, this year, too, powerful groups involved in the food business had assured the government that prices would not increase, but these assurances proved futile.

He said that if immediate action is not taken against this mafia and middlemen, a second wave of inflation will also come during the same month, further reducing the people’s purchasing power.

He demanded that the central and provincial governments take strict measures to ensure the provision of cheap goods to the people at all levels during the holy month of Ramadan.

Mian Zahid Hussain said that until strict action is taken against illegal profiteers, the people will not get any relief, which will affect the government’s popularity.

In dozens of countries, including Europe, America, Canada, Australia and India, people are given relief on religious and national festivals, but in Pakistan, influential mafias start skinning masses during such times, which is regrettable, he said.

Copyright Business Recorder, 2025