Ramazan and price hike

Express Tribune

24-02-2025

As Ramazan approaches, profiteering has once again tightened its grip on markets across Punjab. The price of essential items - fruits, sugar and staple goods - has surged, making it increasingly difficult for consumers to afford basic necessities. Lahore, a major urban centre, is witnessing particularly steep hikes, with no effective intervention in sight. Unlike previous years, the Punjab government has yet to announce Ramazan Bazaars or fair-price shops, leaving citizens to fend for themselves in an already fragile economy.
This inflationary cycle plays out every year, yet authorities remain unprepared. Demand spikes ahead of Ramazan are no surprise, nor are the exploitative prices that follow. Hoarders and profiteers, emboldened by weak enforcement, continue to manipulate markets, while official price control mechanisms exist only on paper. The government's token response - selling sugar at Rs130 per kilogram at a few designated points - does little to impact open market rates. Without broader intervention, prices will keep rising, pushing more households into financial distress. In order to address this year on year crisis, the government must move past routine price monitoring. Strict action against market manipulators and proactive regulation of supply chains can prevent unnecessary inflation. The absence of Ramazan Bazaars this year is inexcusable. These markets have historically provided relief to consumers, and their discontinuation signals a lack of urgency from policymakers.
Religious scholars have also urged traders to offer discounts in the spirit of Ramazan, but morality cannot be left to voluntary goodwill alone. Without state intervention, calls for fairness will remain just calls. Businesses must be held accountable for exploitative pricing, ensuring that profiteering does not overshadow the principles of generosity and community that define this holy month. The rising cost of living has already stretched household budgets to the limit. If the state cannot ensure price stability during Ramazan, it will be a damning indictment of poor governance.