Inflation becomes a big political and economic challenge - Weekly meeting to control prices have become a joke.

Oil price hike to result in price hike: Mian Zahid Hussain

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said inflation has become a big political and economic issues.

It has compromised the standard of living of masses, as all efforts to tame prices have met with failure, he said.

Mian Zahid Hussain said that the meetings of price control committee and directions to the departments and provinces to arrest inflation have become counterproductive which are not taken seriously by masses.

Talking to the business community, the veteran business leader said that price control mechanism is not working otherwise; it would have provided some relief to the masses reeling under double-digit inflation.

The price of eggs in this winter has seen a severity percent hike over the corresponding period while the masses are forced to consume costly and substandard flour despite spending billions on wheat import.

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