After the final deal with IMF, government presented the mini-budget, implementing taxes on various things. It increased the prices of basic food items in the market making it difficult for middle class to get basic food needs and daily usage items.
In many other parts of world, food scarcity is becoming a key challenge for people. Russia-Ukraine war is also another reason for food shortage crises around the globe. Food shortage automatically increase the prices to really high level. World Food programme estimated that 349 million people are now facing severe food shortage in more than 79 countries.
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Strict action against Profiteers
Government of Pakistan is trying to implement strict rules against profiteers and hoarders to make sure that food prices are available on normal prices and markets are not facing any shortage of necessary items. Price controls and checks should be made on unfair business practices, provincial governments are planning to provide some economic relief for citizens through this check and balance.
A crackdown against profiteers and hoarders will be implemented by Sindh government in order to remove hurdles for local citizens in getting daily food necessities. In Pakistan, massive flood of 2022 also affected food supplies and caused hike in prices of food. Many crops like wheat, rice and maize got destroyed in flood and has fallen short in market, pulses, and vegetables including onions also got out of stock.
According to the report by Pakistan Bureau of Statistics, essential food items prices have witnessed a yearly hike of 50pc to 500pc. Chicken and eggs also increased by 92pc and 79pc, basmati and non-basmati rice also increased to 69pc. Overall yearly inflation in rural areas of Pakistan also increased from 39pc to 45 pc.
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Government should work on some other things more than administrative price controls, such high level of food inflation should be stopped, enhancing the productivity of farm workers are also necessary. Technology should be used in better production of crop and increasing the total output of crops.