Economy
 
Ghee and oil prices likely to increase manifold
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March 02, 2012
The dispute between Pakistan Vanaspati Manufacturers Association (PVMA) and Edible Oil Carriage Contractors Association (EOCCA) has badly affected the normal supplies of ghee and oil to local markets and commodities are likely to witness a hefty price increase in a couple of days.

According to market sources, the strike has been creating problem for local markets across the country as ghee and oil manufacturing factories remained shut for an indefinite period while no supply is being made to any wholesale and retail market. Since the dispute started an increase of Rs 6 per liter in prices of ghee and oil has been witnessed unofficially, sources disclosed.

They said that price increase has been witnessing since February 19 and situation may deteriorate further if government does not take serious step to avoid any untoward situation.

Pakistan Vanaspati Manufacturers Association (PVMA) Chairman Sheikh Abdul Waheed said that a letter has already been written to the government officials for the provision of security but so far no official has contacted yet. Subsequently, the halt would be observed for indefinite period, he said.

The chairman said all edible oils and ghee manufacturing factories were closed after the trucks transporters and tankers mafia, which burnt the four trucks loaded edible oil of worth Rs 30 million of the National Logistic Company (NLC) on February 17 2012.

Following such terrorist incident by trucks transporters and tankers mafia, the PVMA chairman said, it had decided to close the factories for an indefinite period of unless the assurance was given to them that no such incident would take place in future. He said all 94 mills had locked their gates across the country, following a decision was taken by the executive committee of the PVMA in all regions.

Abdul Waheed said ghee industry was in the grip of an organised extortionist and transport/tanker mafia, which had paralyzed the transportation of imported edible oil from Port Qasim, Karachi, to upcountry destinations. He said the PVMA was being victimised by constant unilateral increase in transportation rates, blackmailing and pilferage of their cargo.

He said the burning of four NLC tankers, loaded with edible oil by tanker mafia, had created a wave of fear and uncertainty among the manufacturers. He regretted the inconvenience caused to the public in advance.

The officials of Bin Qasim Association of Trade and Industry (BQATI) have expressed concern over persistent dispute between the Pakistan PVMA and EOCCA which has completely halted the supply of edible oil from the Ports.

MianMuhammed Ahmed, Patron in-chief BQATI said that since last few months a new menace has come up in Bin Qasim Industrial Zone which was a source of great concern and anxiety to the business community and the foreigners working at Port Qasim Industrial area. Law and order situation of Bin Qasim area is deteriorating due to ongoing dispute between the PVMA and the edible oil carriage contractors.

Around 200 to 300 oil tankers are parked on National Highway and main PQA road. This affects member industrialist, foreign investor, traders, foreign engineer and staff working in Port Qasim Industrial Zone.

He said that on February 17, 2012, four NLC oil tankers carrying edible oil from Port Qasim to up country were set on fire on the National Highway. This incident has created lot of panic in the area, especially in foreign engineers and technical advisers working inside the port industrial zone.

These events have reemphasized the need to implement strict and additional security measures to minimize the risk of criminal activities on National Highway, PQA roads and protect the infrastructure and manpower of Port Qasim industries.

At the time when industrial production needs to be boosted up to help the economy, incidents like these will act as serious deterrent to investors local as well as foreign, said MianMuhammed Ahmed.

He demanded the concerned authority and ministry to take immediate steps for protecting persons and property against these acts, thefts and sabotage attempts in the best interest of the industries operating in the area.

On the other hand, a survey to the local markets revealed that, manufactures have already increased prices of cooking oil/ghee by Rs 10 per kg during the outgoing week. Traders said that manufacturers of ghee and cooking oil had warned of further surge in prices of the commodities by Rs 5 to Rs 10 per kg in next few days.

The survey revealed that prices of most of the essential kitchen items have registered a drastic increase the week ended on February 12, as compared to the last week. Traders of other cities wholesale markets are of the view that suppliers of most of the kitchen items kept on raising the prices of cooking-oil, ghee, rice, pulses and other kitchen essentials.

Traders alleged that suppliers of cooking-oil/ghee were regularly increasing the price of the commodity: good quality cooking oil like Dalda, Sufi and Habib was available at Rs 180 per kg last Saturday, and is now being sold at Rs 185 per kg. Suppliers of cooking oil have increased the price of normal quality ghee by Rs 10 per kg.

Traders revealed that ghee and cooking oil prices would be further increased by Rs 5-10 per kg in next week and it may touch Rs 200 per kg within next few weeks as globally palm oil prices were increasing continuously. They maintained that the rates have been raised due to increase in palm-oil prices in the global market.

People from all walks of life expressed serious concerns over hike in prices of kitchen items. They said that hoarding by some traders was the main reason behind the recent price hike, while the government has failed in controlling this illegal activity. Citizens criticised the government that it not only failed in providing relief to the poor masses, but also failed in checking the price hike. They said that the government had given a free hand to the profiteers.

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