Economy
 
Price hike ‘ghost ‘ comes out before Ramazan
Visits 1560
July 29, 2011
As the holy month of Ramazan comes nearer, the price hike ghost has come out in the shape of profiteers and hoarders those have become active to gain maximum profits during this mega buying month as the prices of essential commodities have already gone upto sky high even before a week earlier to Ramazan.

Besides vegetables and fruits all the basic commodities have witnessed an increase in their prices, burdening more the already troubled common man.

In Pakistan, although being an Islamic state, traditionally fruits and vegetable prices at the advent of the Holy month of Ramadan went spiraling high by 80-100 percent. More than 25 daily commodities like sugar, rice, pulses, chicken, beef, mutton, vegetables and fruit prices have shot up in local markets.

Like past, this year also the government appears to have flopped in controlling the prices even before Ramadan. The price lists issued by the local administration seems a showpiece in the shops.

The country is already in the grip of hyperinflation, while the advent of Ramadan has further aggravated the situation taking the prices of fruits and vegetable sky-high and much beyond the purchasing power of the common man.

Wholesalers and retailers, particularly of fruits and vegetables, enjoying a free hand to fleece the consumers ahead holy month despite of all the claims of officials. The price of flour is already raised by 3 to rupees per kg.

Dates are available from Rs 120 Rs to Rs 150 half kg, while chicken is being sold at around Rs 240-260. Besan is regularly used in Ramadan for making Pakoras for Iftar and its price now days is around Rs 70 to 80 a Kilo. Yogurt is being sold at Rs 88 to Rs 92 while a liter of milk costs Rs 68 to Rs 75 (show a discrepancy for fresh and tetra packs).

Sugar prices have broken all the previous records and it has been sold at Rs 68 to Rs 70 per kg. There are reports about shortage of these commodities also. Utility stores are unable to supply the desired amount of commodities and unavailability of products is causing nuisance.

Despite of being honest and helpful at least in holy month the retailers exploit the needs of public in Ramadan. Even the lower middle class person tries to eat nutritious fruits daily but how can they afford such prices?

According to a report by Federal Bureau of Statistics (FBS) there is an increase in prices of various commodities over a period of a week.

The main commodities which showed an increase in their prices in during July 14to July 22 are as under:

Food: Chicken (farm) (22.30%), egg (hen) (37.93%), bananas (21.81%), masoorpluse washed (1.02%), LPG (11 kg cylinder) (39.62%), gram pulse washed (19.67%), mutton (22.14%), onions (9.37%), beef (19.61%), gur (13.69%), sugar (8.08%), food prepared/preserved (3.02%), oil cakes (2.91%), wheat flour (2.50%), tea (2.46%), meat (1.86%), sugar refined (1.72%), wheat (1.69%), rice (1.42%), beans (1.33%) and besan (1.06%).

However seven commodities prices declined and almost 24 commodities prices declined.

There is a hope to have an announcement from PM Gilani about the price hike matter soon but it’s implementation is a hard nut to crack. From now it seems that people have to get ready to bear the huge storm of inflation this Ramadan like always.

Even on the Sunday bazaars the prices of vegetables and fruits continued their upward spiral before Ramazan. A similar increase has been seen in the prices of kitchen items have also been increasing for the last three weeks and the trend continued.

Consumers complained that such bazaars could only be useful if prices were checked by the administration. “A price increase before the Ramazan is the hallmark of Pakistan,” said customer Umar Latif shopping at the UP Bazaar. He said prices were increasing since the last two weeks with no one to control them. He said, “hoarders are active and the city and provincial administration appear helpless before them again.”

Shopper MubashirAkram could not help but ask the government to set up similar, clean bazaars throughout the city. He also said the government could improve old bazaars rather than creating new bazaars. “I mean it is simple logic to improve what already exists,” said Mubashir.

Atiq Mir, chairman Alliance of Market Association said that there is a big mafia that is active behind this price hike before and during the holy month of Ramazan. He said that people related to different walks of life particularly big investors are involved in this artificial price hike.

“They wait for the whole year and start hoarding before three month of Ramazan to get maximum benefits of this mega buying month where consumption of commodities go unabatedly high”, he claimed.

When there is no check and balance from government in any matter of our life, a normal man also include in this circle of price hike and try to get illegal benefits of this holy month mega buying by increasing rates.

Expressing concerns over law and order situation, he said that upcoming month of Ramazan may not meet traders expectations of high trade as the worsening law and order situation has taken its toll on the commercial activities in the city.

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