ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar ordered a nationwide crackdown on hoarders and market speculators on Saturday to curb rising food prices, which have been driven by inflationary pressures linked to the ongoing US‑Iran conflict in the Middle East.
The conflict has driven up energy costs for import‑dependent Pakistan, pushing transportation and distribution expenses higher and straining household budgets. Authorities are examining whether businesses are passing on price increases that exceed those justified by higher costs.
Annual consumer inflation moderated to 10.3 % in September from 11.1 % in August, while wholesale inflation remained at 13.3 % year‑on‑year. Weekly inflation accelerated to 11.85 % in the week ending 22 October, largely propelled by wheat‑flour prices, according to official data.
Officials maintain that domestic stocks of essential commodities, such as wheat and sugar, are sufficient to meet demand. However, they have voiced concern over rising wheat prices, warning that hoarding and speculative trading could further aggravate inflationary pressures on consumers.
“The Deputy Prime Minister/Minister of Finance stressed that protecting national food security and guaranteeing the availability of essential items at reasonable prices is the government’s priority,” the Pakistani information ministry said, after a cabinet committee meeting reviewed national reserves, procurement frameworks, consumption trends and price movements.
“He instructed federal and provincial authorities to maintain vigilance over market networks and directed all organizations to demonstrate zero tolerance toward hoarding or market speculation.”
Officials told the meeting that domestic stocks of daily essentials were adequate, providing stability for the local supply chain. The committee was briefed that, including imported wheat, total wheat stocks were sufficient until the next harvest, the ministry said.
The Deputy Prime Minister voiced concern over the rising wheat‑price trend and directed federal and provincial authorities to implement all necessary measures, including increasing wheat supply, to stabilize prices.
“Regarding sugar, the committee was briefed that domestic market prices were well below the targeted retail price of Rs155 ($0.56) per kg, with surplus stock expected to last until the next crushing season,” the ministry added.
This month, the government of Pakistan’s breadbasket province of Punjab approved a Rs10 billion ($36 million) subsidy to ensure affordable flour availability, while also increasing the quota of subsidized wheat supplied to flour mills to Rs3,800 ($13.7) per maund.
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