Amid the ongoing price hike, which occurs during every Ramazan, Sindh Chief Minister Syed Murad Ali Shah on Monday ordered a crackdown on profiteers and directed the administration to seize and auction hoarded goods in accordance with the existing anti-profiteering laws to ensure effective price control.
In a typical pattern, the prices of essential commodities and traditional edibles have sharply increased, with the administration failing to enforce the officially notified prices in the province, particularly in Karachi. While the market forces and chain of supply are stated to be the key factors behind the price hike, a weak oversight by the administration —which doesn’t have ample staff to take action against the profiteers across the city — leaves people at the mercy of retailers.
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In 2023, over 100 section officers (SOs) of different provincial departments had been given magisterial powers to take action against profiteering and hoarding during Ramazan in Karachi alone.
Presiding over a high-level meeting on price control, the CM issued strict directives to regulate the prices of essential commodities across the province, emphasising that artificial price hikes and hoarding would not be tolerated.
According to a press statement issued from the CM House, the chief minister reminded the officials that the anti-profiteering law empowered the government to seize and auction hoarded goods to prevent market manipulation. He therefore directed the administration to ensure seizure of the hoarded goods and auction them under the law.
The Karachi commissioner informed the meeting that over 250 “Bachat Bazaars” (discount markets) were operating in the city to provide relief to citizens. The CM stressed that these markets must be well-organised and effectively regulated to ensure smooth operations and prevent traffic congestion.
