ICCI shows concerns over rising inflation

Islamabad, March 18, 2019 (PPI-OT): The Islamabad Chamber of Commerce and Industry has shown great concerns over the rising inflation, especially in food items and has called upon the government to take urgent remedial measures for saving the common man from further troubles on account of rising prices of daily use items.

Ahmad Hassan Moughal, President, Islamabad Chamber of Commerce and Industry said that due to rising inflation, purchasing power of consumers was reducing and this situation was not only affecting business activities, but was also increasing the miseries of the general public. He said that the hike in inflation could be judged from the fact that price of green chilies in wholesale market has gone up to Rs.140 per kg from Rs.12-15 per kg and this item was selling at retail level from Rs.240-320 per kg.

He said the prices of some vegetables have also increased to Rs.80-100 per kg from Rs.50-60 per kg. Similarly, the price of tomato has gone up to Rs.120-140 per kg at retail level. He stressed that government should address supply chain issues and ensure availability of sufficient quantity of daily use items in markets to keep their prices at reasonable level. He further emphasized that government should address all those issues that were giving rise to inflation to save the people from further problems.

Rafat Farid Senior Vice President and Iftikhar Anwar Sethi Vice President Islamabad Chamber of Commerce and Industry said that despite being an agricultural country, Pakistan was importing millions of tons of pulses. They said that Pakistan was consuming 1.4 to 1.5 ton pulses and it was producing 500,000 to 600,000 tons of pulses while the rest quantity was being imported from various countries including Canada, USA, Australia, Russian and others.

They said that after meeting domestic demand, imported pulses could be converted into a good source of exports after value addition and urged that government should cooperate with private sector in value addition of surplus pulses for export that would open a new export sector for Pakistan besides helping in earning foreign exchange.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

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