1pc GST leads to 20pc increase in prices of edibles The prices of edibles have already increased by almost 20 per cent with the increase of one per cent GST, while further surge is expected in first quarter of the fiscal year, due to some negative decisions of the government. These views were expressed by the discussants in Jang Economic Session on ‘What Will be inflation in Ramazan?’ held here on Wednesday. The panelists were: economist Mehmood Mirza, provincial minister Rana Mashud, Lahore Chamber of Commerce and Industry vice-president Abuzar Shad, flour miller Asim Raza, Kisan Board Pakistan vice-president Sarfaraz Khan and Haji Iqbal. The event was hosted by Sikindar Hameed Lodhi. Mehmood Mirza said there was always inflation due to failure of system, not the policies. He believed that system could not be changed without comprehensive national level policy. He said every system had its prerequisites without meeting these requirements it could not work. Thus there was need to take necessary measures to control inflation not only in Ramazan but round the year, he said. Rana Mashud said the government gets inflation and other issues in heritance while the provincial government allocated Rs 4 billion subsidy for Ramazan. He said the government was in talks with all stakeholders to ensure subsidies edibles in Ramazan. The Punjab government would establish 350 Sastay Ramazan bazaars and the chief minister had deputed 1300 price magistrates and assigned one minister at division level to monitor prices during Ramazan. The Punjab government, during Ramazan, would establish Mandi Dastarkhwan, like the one establish in holy city Madina, he said. Abuzar Shad said that prices of edibles would increase by 25 per cent till September due to wrong government policies. He said that, due to poor policies, inflation was out of control in Pakistan while the government and the opposition were involved in blame game but never thought to give relief to public. Asim Raza said Pakistan wheat price was higher than international prices due to increase in support price by the previous government which had raised flour rates. He said that, despite increase in input cost, the flour mills would provide flour to everyone at subsidies rates of Rs 31.5 per kilogram during Ramazan. Sarfaraz Khan said evil forces were already united against the good in the society so that they made monopolies in every sector of the system. He said that, in the past, businessmen and traders were held responsible for inflation in Ramazan but, this time, the government had given an opportunity of inflation to them by increasing one per cent GST and raising petroleum prices. He said the government should establish close liaison with departments concerned and stakeholders to control prices during Ramazan but, unfortunately, it had not completed its homework. Haji Iqbal said the flour dealer would get only five rupees commission against a 20-kilogram bag which would be paid to the laborer. Thus, neither flour dealers nor the retailers would get a single penny from flour sales, he said, demanding the government ensure Rs 20 commission against the sale of each flour bag of 20 kg. images.thenews.pk/04-07-2013/ethenews/e-187658.htm
Posted on: Fri, 05 Jul 2013 04:50:43 +0000
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