Global Rice News

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain has expressed concern about certain importers in Pakistan who are not passing on the benefits of the reduced cost of imported goods to the public. Despite the decrease in the value of the dollar, these importers are reportedly filling their own pockets instead of using the strengthened exchange rate to benefit the masses.

Mian Zahid Hussain highlighted that while the import cost of petroleum products has reduced, the price of petrol has increased, which is surprising and unfair to the public. He emphasized that the importers should prioritize benefiting the people instead of maximizing their own profits, especially considering the fall in commodity prices in the international market.

Furthermore, Mian Zahid Hussain pointed out that the price control mechanism in the country is compromised, resulting in the masses being deprived of the benefits of reduced import costs. Despite the decrease in the value of the dollar, which was available for 307 rupees in September last year and has now decreased to 278 rupees, the public is not reaping the rewards.

In addition, the import cost of wheat, pulses, and various other food items, as well as the production cost of sugar, has also reduced. However, the public is still not receiving the full benefits of these reductions, as the prices of flour and other essential food items remain high.

Mian Zahid Hussain also mentioned that neighboring country India has taken steps to relieve its people by banning the export of onion and rice. However, Pakistan has not made a similar decision, allowing exporters and smugglers to take advantage of the situation at the expense of the masses. This has led to increased prices of onion in the local market, exacerbating the problems faced by the public.

The business leader further expressed concern about the continuous increase in the prices of poultry, beef, and mutton, which adds to the anxiety of the people. Despite these concerns, profiteering in these sectors continues without interruption.

Mian Zahid Hussain urged for stricter border security during Eid holidays to prevent smugglers from bringing and dumping goods worth billions of rupees into the country. This would help protect the local market and prevent further exploitation at the expense of the masses.

Overall, it is clear that Mian Zahid Hussain is advocating for importers and authorities to prioritize the well-being of the public and ensure that the benefits of reduced import costs are passed on to the masses. The compromised price control mechanism and lack of decisive actions are causing significant hardships for the people. It is essential for Pakistan to take effective measures to address these issues and alleviate the burden on the public.

Source: [Daily Times](https://dailytimes.com.pk)