Pakistani PM orders stern action against hoarding, unreasonable price hike

The prime minister directed provincial chief secretaries and chief commissioner of capital Islamabad to launch a systematic special campaign against the unusual price hike in the country, said local media while quoting officials from the Prime Minister's Office.

Khan also directed price control committees to release price lists in their vicinities regularly to put a check on unreasonable price hike of food staples.

The recent increase in inflation has made it hard for people to make ends meet. Recently released surveys from independent organizations show that more and more people are compromising on health and education due to a decrease in their purchasing power.

In its latest available monthly report released in early June, the country's Federal Bureau of Statistics said the inflation increased 9.1 percent in May 2019 as compared to May 2018. The bureau said sensitive price index jumped 10.8 percent while the inflation rate in the wholesale sector remained at 14 percent.

Adding woes to the government's economic policy, the value of the US dollar against local currency rupee surged to a historic high of 164 rupees. The persistent depreciation of rupee against the greenback has fuelled inflation, which has not only hit the lower strata of society but also decreased the purchasing power of the middle class.