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Government urged to control all-time high Food Inflation- Islamabad Chamber of Commerce and Industry

Islamabad: High food inflation in the last four years has pushed millions of people into a state of hunger and poverty as the current increase in petrol, diesel and CNG rates have also negatively impacted the food prices.

More than 60 percent people in the country were still experiencing food insecurity as food is unaffordable to them due to all-time high food inflation being faced by poor segment of society. It was stated by Islamabad Chamber of Commerce and Industry (ICCI) President Yassar Sakhi Butt while commenting on the phenomenal rise in prices of different food commodities in Pakistan.

ICCI President said that prices of essential items like wheat, rice, sugar, vegetables, pulses, milk, egg, meat etc. were up by 220 percent in last four years. He said that price of milk has increased from Rs.25 per liter in 2008 to Rs.75 per liter in 2012, even though Pakistan was the 4th largest producer of milk.

He was of the view that it has become nearly impossible for the common man to respectfully support a family as the government has failed to provide any relief to the general masses, causing their hardships to increase manifold.

Commenting on prevailing energy crisis in Pakistan, ICCI President said that energy crisis has declined the industrial production due to which the rate of unemployment has increased to more than 10 percent. Thus, immediate steps are essential for boosting industrial production that would ultimately decrease the level of unemployment and increase purchasing power of working and poor people, so that they could bear the brunt of high food inflation, he maintained.

Yassar Sakhi Butt said that stable prices not only gives a nurturing environment for economic growth, but also uplift the life standard of poor and fixed income citizens who are the most vulnerable in society. He urged the government to adopt appropriate food security policies and develop a mechanism to control essential food prices to provide relief to millions of poor people of Pakistan who are suffering from severe food inflation.

ICCI President said that foreign investment for the production of basic goods should be encouraged by the Government as there are vast agricultural as well as unused lands especially in our Balochistan province that should be utilized for enhancing agricultural yields. He said that Focus should be on value-added agriculture and farming, like fruits, vegetables, and livestock as selling basic food items at Utility Stores is not enough to control food inflation.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road, Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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