After sugar and wheat, the government has now decided to check the prices of ghee and cooking oil in the country.
Senior officials in the Ministry of Industries & Production told ProPakistani that the Federal Minister for Industries & Production, Muhammad Hammad Azhar, has called an urgent meeting of the ghee and cooking oil industry to explain the reasons behind the increase in prices of vegetable ghee and cooking oil. The prices of edible oil and palm oil would also come under discussion.
Officials said that the meeting would take place on Tuesday (December 8), following the directions of Prime Minister Imran Khan to check the prices of ghee and cooking oil. Ministry of Industries & Production will question the industry to explain trends in the prices of different brands of ghee and cooking oil products during the last two years.
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The seriousness of the meeting is evident from the fact that Hammad Azhar will chair the meeting at the Ministry and called all relevant stakeholders to brief the issue of the prices of ghee and cooking oil.
The meeting will also discuss the prices of ghee and edible oil in Pakistan vis-a-vis the prices of commodities in the international market.
Sources familiar with the matter told ProPakistani that the Competition Commission of Pakistan (CCP) is said to have been authorized by the government to take action against ghee and edible oil manufacturers for fleecing the consumers through collusive behavior or price fixation under the platform their association.
Recently, the CCP issued notices to the members of the Pakistan Vanaspati Manufacturers Association (PVMA), but no evidence of cartelization was found.
The meeting between Muhammad Hammad Azhar Federal Minister for Industries & Production and ghee and cooking oil industry has been rescheduled for Wednesday (Dec 9) due to heavy engagements of the Minister today.
Sources in the Ministry of Industries & Production told ProPakistani that the meeting will now take place on December 9 at the Ministry of Industries & Production.