Flood Crisis Spurs Call for Action Against Hoarding and Profiteering

Karachi: Zubair Tufail, President of the United Business Group and former head of the Federation of Pakistan Chambers of Commerce and Industry, has called for stringent measures by the government to tackle hoarding and profiteering in light of the escalating flood crisis in Pakistan.

In a statement on Thursday, Tufail expressed his concerns over the looming flood threat to the Sindh region, urging for immediate action to protect lives and property. He pointed to the recent devastation in Punjab and Khyber Pakhtunkhwa as a warning, emphasizing the need for the Sindh government to act swiftly.

Tufail reported that a significant flood wave from India has entered River Chenab, causing high-level flooding in the Chenab, Ravi, and Sutlej rivers. The floodwaters, having already impacted Punjab and KP, are now advancing towards Sindh, he noted.

He highlighted Pakistan’s vulnerability to climate change, with shifting weather patterns threatening national development. The current monsoon systems are moving towards southeastern Sindh, with extremely high flood levels expected in the Indus River in the coming days.

Tufail urged the Sindh government to relocate residents from high-risk areas to prevent large-scale losses. He also pointed out the agricultural damage caused by the floods, particularly to cotton, vegetables, and fruit crops, with accurate assessments only possible after floodwaters recede.

He warned of hoarders exploiting the situation by inflating prices of essential goods. With over 30,000 to 35,000 villages flooded and significant crop damage, he predicted a 30% to 50% increase in food prices.

Tufail called for authorities to closely monitor market activities to prevent artificial shortages and ensure stable supplies for the public during the crisis.