Price hike in food, electricity, petroleum and other items may push another wave of inflation: Mian Zahid.

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 Wednesday said the price of food and other essential items and services have seen an average increase of 31 percent during the last two and a half years.

The new high prices are stabilising but a new wave will hit country soon as a result of seventeen percent hike in the price of petroleum products and electricity, he said.

Mian Zahid Hussain said that masses will have to brave further problems as the IMF is preparing to impose the so called stabilisation policies while will render many sectors of the economy lifeless.

Talking to the business community, the veteran business leader said that there is no reduction in the food prices and there is no chance for any relief as the government has failed to reduce prices.

Coronavirus coupled with uncontrolled prices...