https://arab.news/bxsz3
- 3,786 operations conducted in first ten days of Ramadan, 11 shops sealed, 605 wholesalers arrested
- Food prices in Pakistan surge during Ramadan mainly due to hoarding and speculative pricing
ISLAMABAD: Islamabad Deputy Commissioner Irfan Memon on Wednesday directed authorities to intensify an ongoing crackdown on wholesalers who were hiking prices of essential commodities during Ramadan, with 605 arrested in the first ten days of the holy month for violating a government price list.
Food prices in Pakistan typically surge during Ramadan due to increased demand and supply chain inefficiencies. A significant factor contributing to this rise is hoarding and speculative pricing by traders, who artificially inflate market rates to maximize profits.
On Wednesday, the Islamabad Capital Territory administration released the district administration’s ten-day performance report for Ramadan, which said 3,786 operations had been conducted against wholesalers, 11 shops sealed and 605 arrested for price list violations and hoarding.
“Strict actions will be taken against shopkeepers charging excessive prices,” Memon said. “Price control magistrates must ensure immediate action on the spot.”
On Tuesday, Prime Minister Shehbaz Sharif instructed authorities to take stern action against profiteers and directed the district administration to intensify monitoring of relief measures. He also instructed federal ministers and public representatives to personally visit Ramadan markets, utility stores and other designated locations to oversee the availability of subsidized goods.
Last month, Finance Minister Muhammad Aurangzeb also issued a warning against hoarders whose actions contribute to annual spikes in the cost of essential commodities during the holy month.