LCCI Warns of Price Surge Before Ramadan

The Lahore Chamber of Commerce and Industry (LCCI) has raised serious concerns over the surge in prices of essential commodities ahead of Ramadan, cautioning that the upward trend is placing increasing strain on consumers.

LCCI President Faheem Ur Rehman Saigol cited recent figures issued by the Pakistan Bureau of Statistics (PBS), which indicate a 1.16% rise in prices, reflecting mounting inflationary pressures even before the commencement of the holy month.

Senior Vice President Tanveer Ahmed Sheikh and Vice President Khurram Lodhi highlighted that weekly price hikes in electricity, fruits, vegetables, petrol, LPG, and other daily-use items have significantly eroded purchasing power.

Saigol pointed out that escalating energy tariffs and higher transportation costs are pushing up production expenses, directly contributing to increased food prices. He cautioned that the seasonal spike in demand during Ramadan could further accelerate inflation if effective price control mechanisms are not implemented.

The chamber has urged the government to take prompt action to curb hoarding and profiteering, ensure uninterrupted availability of essential goods, and promote market stability.

Saigol emphasised that any delay in policy intervention could intensify challenges for both consumers and businesses, underlining the need for timely and decisive economic measures.