Retailers and wholesalers reap 100% profit citing economic crisis and POL prices

Islamabad: Retailers and wholesalers are reaping 100% profit under cover of the current state of the country’s economy, but the local management has literally failed to solve this problem for more than three and a half years.

The local management has failed to establish a separate department on price control issues, therefore retailers and wholesalers are looting the public with both hands and charging profits as they please under the guise of rising prices. POL prices, dollar rates and shortage of items in the country.

About 70% of inflation was due to bad government policies, but 30% of inflation was due to retailers and wholesalers. The business community is increasing prices with rising POL prices. Similarly, carriers are also raising fares with POL prices, but what should the public do in this situation.

Undoubtedly, POL prices, dollar rates and unstable political situation are the main reasons for the constant increase in inflation and several other crises in the country, but retailers and wholesalers are taking full advantage of the situation. present and make additional profits.

If the government increases Rs5 per liter on POL prices, wholesalers and retailers increase prices in a ratio of Rs20 to Rs40. Retailers, wholesalers and manufacturing companies all go hand in hand and play a major role in driving up the prices of daily use products.

‘The News’ interviewed different people and the fruit and vegetable market in Islamabad and the majority admitted that they buy vegetables and fruits at cheaper prices, saying that retailers sell them at higher rates.

Similarly, flour and ghee/cooking oil are not that expensive when they come out of the mills, but their prices climb alarmingly when they reach retail stores.

One kilogram of cucumber is available at Rs40 at Sabzi Mandi, if we buy it directly from local farmers, we will only pay Rs15 for one kilogram. But in retail stores, the one kilogram cucumber is sold at Rs70. A pack of spinach is available at Rs20 in Sabzi Mandi but traders sell it at Rs40.

Similarly, wholesalers and retailers earn between Rs 200 and 300 on a 5 kilogram box of ghee and cooking oil. They earn Rs50 to Rs70 on 1 kilogram of rice, Rs30 to Rs40 on shoe polish and Rs30 to Rs50 on all kinds of washing powder. Meat, chicken, milk and yogurt vendors are also looting the public with both hands.

In addition, revenue department officials were given powers of magistrates to better control traders and vendors.

With these additional powers, magistrates will be empowered to send offenders to jail for three days after conducting summary hearings on the spot.

They will also have the power to impose a fine of up to Rs 50,000 on those involved in selling goods above officially notified rates.

Price Control Officers will further have the authority to issue all penalties together or in stages. The district administration has assigned powers to those responsible for price control. Similarly, District Officers (DOs) from different departments including Industry, Labour, Environment and Civil Defense have also been given the powers of Price Magistrates.