19:54
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LAHORE: Inflation will be controlled only when parliamentarians who own flour, sugar and fertilisers mills stop profiteering.
This was stated by the participants in the Jang Economic Session on ‘How to Ensure Food Items to Public at Cheaper Rates’ here on Tuesday. The panelists were Dr Khawaja Amjad Saeed, Rabia Sultan, Ali Raza Gardazi, Huma Aziz, Rao Akram and Farah Naz while the session was hosted by Sikindar Hameed Lodhi and Intikhab Tariq.
Dr Saeed said the government should revise petroleum products’ prices after every four months. He said the inflation in food prices in the country was at 9.9 percent while it was 8.3 percent in Bangladesh. He said the provincial government did not take sufficient steps to control the inflation after devolution of power through the 18th Constitutional Amendment. He suggested establishment of the Rescue Price Index and Shelter Policy through which staple food prices should be frozen for five years and cheap housing facilities might be provided to the public. He said the private sector generated employment opportunities and not the government, so it should be facilitated.
Rabia Sultan said that in Pakistan, the quality of food was compromised for reducing prices. She said subsidy should be given only to the needy while across-the-board subsidy also benefited the posh localities. She said the government controlled the prices only during Ramazan, leaving the public at the mercy of profiteers for the rest of the year. She called an increase in domestic edible oils production to reduce its import.
Ali Raza Gardezi said successive governments had failed to control inflation while it had become a serious global problem across the world. He said after the WTO regime, investors had established cartels which had created extortion opportunities for the capitalists.
Huma Aziz said poverty was increasing every passing day while the poor were getting poorer, which was pushing the crime rate up. She said the ruling elite owned edible production factories and pushed the prices upward by creating an artificial shortage after which the government took steps for to reduce the prices slightly -- a mere eyewash.
Rao Akram said no institution was established to control edibles’ prices as the rulers of sugar, ghee, flour and other mills were elected representatives who maneuvered every law for their own benefit.
He said the Punjab government had taken wrong steps to control the prices by harassing small shopkeepers but not taking action against the hoarders. Farah Naz said if the rulers performed their duties amicably, every crisis could be controlled. She said the inflation crisis was the result of bad governance.
This was stated by the participants in the Jang Economic Session on ‘How to Ensure Food Items to Public at Cheaper Rates’ here on Tuesday. The panelists were Dr Khawaja Amjad Saeed, Rabia Sultan, Ali Raza Gardazi, Huma Aziz, Rao Akram and Farah Naz while the session was hosted by Sikindar Hameed Lodhi and Intikhab Tariq.
Dr Saeed said the government should revise petroleum products’ prices after every four months. He said the inflation in food prices in the country was at 9.9 percent while it was 8.3 percent in Bangladesh. He said the provincial government did not take sufficient steps to control the inflation after devolution of power through the 18th Constitutional Amendment. He suggested establishment of the Rescue Price Index and Shelter Policy through which staple food prices should be frozen for five years and cheap housing facilities might be provided to the public. He said the private sector generated employment opportunities and not the government, so it should be facilitated.
Rabia Sultan said that in Pakistan, the quality of food was compromised for reducing prices. She said subsidy should be given only to the needy while across-the-board subsidy also benefited the posh localities. She said the government controlled the prices only during Ramazan, leaving the public at the mercy of profiteers for the rest of the year. She called an increase in domestic edible oils production to reduce its import.
Ali Raza Gardezi said successive governments had failed to control inflation while it had become a serious global problem across the world. He said after the WTO regime, investors had established cartels which had created extortion opportunities for the capitalists.
Huma Aziz said poverty was increasing every passing day while the poor were getting poorer, which was pushing the crime rate up. She said the ruling elite owned edible production factories and pushed the prices upward by creating an artificial shortage after which the government took steps for to reduce the prices slightly -- a mere eyewash.
Rao Akram said no institution was established to control edibles’ prices as the rulers of sugar, ghee, flour and other mills were elected representatives who maneuvered every law for their own benefit.
He said the Punjab government had taken wrong steps to control the prices by harassing small shopkeepers but not taking action against the hoarders. Farah Naz said if the rulers performed their duties amicably, every crisis could be controlled. She said the inflation crisis was the result of bad governance.
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