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Punjab struggles with inflation as price controls fail in Pakistan
The Business Guardian
|November 04, 2024
Despite repeated promises from successive governments, Punjab's efforts to combat artificial price hikes, self-imposed shortages, and profiteering have proven ineffective as inflation continues to soar.
A gap of up to 100 per cent between market and retail prices persists, highlighting the shortcomings of the province's outdated district-level price control system, which has failed under the oversight of the Punjab Food Department, Agriculture Department, and the Departments of Industries, Commerce, Investment, and Skills Development, The Express Tribune reported.
Recently, Punjab Chief Minister Maryam Nawaz responded by establishing the Department of Price Control and Commodities Management to manage the supply of essential food items, oversee prices, and regulate industries in the province. This department is tasked with the procurement, sale, storage, and transport of flour, as well as monitoring supply and demand for food grains.
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