Regulated market vital for price control

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Senate special committee on finance, while rejecting free market economy – terming it anti-consumer –, decided to revive regulated market for effective price control. Three member sub-committee headed by Senator Ishaq Dar with Senator Professor Khursheed Ahmed and Senator Sughra Imam directed ministry of finance to consult ministries of law and justice, food security. Sub-committee also asked industries to draft legislation on price control within two weeks. Committee chairman Senator Ishaq Dar said people are at mercy of few influential businessmen, who exploit them and charge un-justified price from them. While criticising government’s treatment of fertiliser sector, he said government is providing gas to fertiliser sector on a subsidised rate but the impact was not delivered to consumers.
Committee unanimously believed that revival of magistracy system in all four provinces is one of the major tools to check un-justified price hikes and profiteering. Members of committee were of the view that food crisis is approaching and Pakistan should prepare itself by reviving its agriculture sector, that would in turn ensure its food security. Otherwise, there would no option but to accept imports from developed countries, they reiterated. He informed the committee that Consumer Price Index (CPI) has witnessed a declining trend from October 2010 to October 2011. However, there has been an increase in September he added.

3 COMMENTS

  1. Dear Sir, Its really very disgusting that there is no Price control committee is working in Karachi properly. Each and every one is looking a king of his commodity and demanding his own rates while the price list is available in the shops but no implementation and authority is looking in the whole city. Pl; manage it properly otherwise this department should be closed its overburden on the peoples of Karachi. If no one wants to work so kick him out from the department but make sure that problems of the citizens must solve as soon pl Thanks

  2. R/sir
    the attock petrolium company which provides the bituman to all the country based in karachi is selling the bituman on his own selected price no one is there to ask the i must tell you that the items sold by them are momo poliesed but they are selling at their our selected price please cheack

  3. The same thing that is no price control in the capital city Islamabad Pakistan. The traders and shop keepers are taking their own prices of their wish and no control of government is insight. there are mafias who taking the high profits specially on food items, beverages, cold drinks etc. There is a romour that the authority got their part in cash at home and given openly authority to traders to loot the people of this city and gov. has closed his eyes and ears from them. If gov has a little shame in their hearts pls do some thing in this regards.

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