Spokesman Report
Islamabad:Business leader and former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Wednesday that action should be taken against the mafia that loots the people by artificially increasing the prices of ghee and vegetable oil.
In this regard, he said, all relevant government machinery, including price control committees, should be mobilized, and prices should be moderated by taking immediate action against profiteers.
Shahid Rashid Butt said in a statement issued here that after the increase in the prices of fruits and vegetables, the flour mills mafia made the flour expensive, and now the prices of vegetable oil and ghee are skyrocketing.
The majority in Pakistan are forced to use substandard third-grade ghee, and the ruthless mafia has increased the price of this quality ghee the most, he observed.
The business leader said that with winter’s arrival, ghee consumption increases. The mafia is taking advantage of this, and if it is not stopped, other necessities of life will also start becoming expensive.
On the one hand, people are being told that inflation is coming down; on the other hand, prices of ghee, flour, meat, fruits, and vegetables are increasing because the profiteers are plundering the masses openly, which needs to be dealt with iron hands.
Shahid Rashid Butt further said that the oil prices have decreased in the global market, but the prices have been increased in Pakistan, which is surprising. The oil prices have declined by three percent in the international market, and now British crude oil is selling at 75 dollars per barrel while US crude oil WTI is at 71 dollars per barrel, and the global gas price has decreased by 40 cents. Currently, gas is 2 dollars 47 cents per MMBtu.
The government should immediately withdraw the increase in oil prices, as it will result in inflation.
