Imran Khan orders action against hoarding, unreasonable price hike

To check hoarding and unreasonable price hike of food items in Pakistan, Prime Minister Imran Khan has directed authorities to take stern action against the people involved in hoarding and other irregularities.

Islamabad: Pakistan Prime Minister Imran Khan has asked authorities concerned to take stern action against the people involved in hoarding, and unreasonable rising prices of food staples, authorities reported on Friday.

The Prime Minister directed provincial chief secretaries and chief commissioner of capital Islamabad to launch a systematic special campaign against the unusual price hike in the country, media reorts said.

Khan also directed price control committees to release price lists in their vicinities regularly to put a check on unreasonable price hike of food staples.

The recent increase in inflation has made it hard for people to make ends meet. Recently released surveys from independent organisations show that more and more people are compromising on health and education due to a decrease in their purchasing power.

In its latest available monthly report released in early June, the country's Federal Bureau of Statistics said the inflation increased 9.1 per cent in May 2019 as compared to May 2018.

The bureau said sensitive price index jumped 10.8 per cent while the inflation rate in the wholesale sector remained at 14 percent.

Adding woes to the government's economic policy, the value of the US dollar against local currency rupee surged to a historic high of 164 rupees.

The persistent depreciation of rupee against the greenback has fuelled inflation, which has not only hit the lower strata of society but also decreased the purchasing power of the middle class.