Pakistani capital arrests around 700 for profiteering in first 11 days of Ramadan
Food prices in Pakistan typically surge during Ramadan due to increased demand and supply chain inefficiencies. A significant factor contributing to this rise is hoarding and speculative pricing by traders, who artificially inflate market rates to maximize profits.
'Around 700 profiteers have been arrested for violating government price regulations and a total fine of around Rs400,000 [$1,428] was imposed by price control magistrates,' Islamabad district administration spokesperson Muhammad Nasir Butt told Arab News.
He said the district administration's teams have conducted over 3,800 operations in which more than 12 shops were sealed after being found guilty of violating price lists and hoarding goods.
Butt said the district administration has set up six full-scale Ramadan bazaars and 20 fair-price shops across the capital for the public's convenience.
'Ramadan bazaars feature special chicken stalls selling at Rs30 below the market rate while ghee is available at Rs70 less,' Butt said. 'Additionally, sugar stalls offer sugar at a Rs30 discount compared to market prices.'
The spokesperson said to ensure that wholesalers keep prices in order and provide quality products to customers, a team of 26 price control magistrates and eight assistant commissioners are monitoring the situation.
The spokesperson added that a 'deputy commissioner corner' has been set up in all grocery malls, where various items are offered at controlled prices.
Prime Minister Shehbaz Sharif on Tuesday ordered strict action against profiteers, calling for intensified monitoring of relief measures. He also directed federal ministers and public representatives to visit Ramadan markets, utility stores, and other key locations to ensure the availability of subsidized goods.
Last month, Finance Minister Muhammad Aurangzeb warned the government would not spare hoarders, whose actions contribute to annual spikes in the cost of essential commodities during the holy month.
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