City
Epaper

Pakistani PM orders stern action against hoarding, unreasonable price hike

By IANS | Updated: June 28, 2019 14:10 IST

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

Open in App

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, reports Xinhua news agency.

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.

( With inputs from IANS )

Open in App

Related Stories

EntertainmentAkshay Kumar & Tiger Shroff flaunt picture perfect abs during their Juhu Beach edition of 'Ocean’s 9'

BusinessChandigarh University Honours Janvi Jindal, India's Youngest Female Sportsperson with 11 Guinness World Records

MumbaiMumbai Police Register 401 Cases, Deport 1,001 Illegal Bangladeshi Immigrants in 2025

InternationalLee expresses hope to expand cooperation with UAE in AI, renewable energy

TechnologyLee expresses hope to expand cooperation with UAE in AI, renewable energy

International Realted Stories

InternationalSaudi bus tragedy: Indian Consulate opens camp office in Madinah

InternationalConsul General meets lone survivor of Madinah bus accident

InternationalUS lawmakers introduce bipartisan resolution recognising "strategic value of historical partnership" with India

InternationalDeveloped nations must deliver climate finance in trillions, not billions: Bhupender Yadav at CoP30

InternationalNearly 477,000 children experiencing disruptions to schooling due to Hurricane Melissa: UN