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Pakistan’s finance chief warns of crackdown on hoarding to control Ramadan food prices

Pakistan’s finance chief warns of crackdown on hoarding to control Ramadan food prices
In this file photo, taken on July 19, 2024, Pakistan Finance Minister Muhammad Aurangzeb speaks during an interview with Reuters at his office in Islamabad, Pakistan. (REUTERS/File)
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Updated 22 February 2025

Pakistan’s finance chief warns of crackdown on hoarding to control Ramadan food prices

Pakistan’s finance chief warns of crackdown on hoarding to control Ramadan food prices
  • Aurangzeb says prices of sugar and oil are rising domestically while their international rates are declining
  • Food prices in Pakistan rise in Ramadan due to increased demand, supply chain inefficiencies and hoarding

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Saturday the government would take strict action against people involved in hoarding, whose actions drive up the cost of essential food commodities every year during the Muslim fasting month of Ramadan.
The minister made the comment while addressing the business community in Faisalabad, a major industrial hub of the country, assuring them that the national economy was moving in the right direction after undergoing a prolonged crisis.
He maintained a reduction in the policy rate, along with steps that have improved macroeconomic indicators, including an overall decrease in inflation, had benefited business owners.
Aurangzeb said all the hard work done on the economy should ultimately benefit the common citizen, adding it was important for that purpose to keep the prices of essential items from spiraling unnecessarily.
“We monitor commodity prices very closely during the ECC meetings,” he said, referring to the Economic Coordination Committee, a principal federal institution responsible for key economic decisions. “We observed a few weeks ago that domestic prices of sugar, ghee and oil were rising even as their international prices were declining.”
“In anticipation of Ramzan, we start getting into this hoarding mentality, which is most unfortunate,” he continued. “We will take very, very strict action against these elements.”
The minister warned the government would take all necessary administrative steps to “prevent the arbitrage” during the holy month.
Food prices in Pakistan often rise in Ramadan due to several factors, including increased demand and supply chain inefficiencies. However, a major issue is hoarding and speculative pricing by traders, which artificially inflates prices to maximize profits during the holy month.
Aurangzeb said this would not be tolerated, adding that sugar and other essential item prices would be strictly controlled as Ramadan approaches in the coming days.


Salman Agha, Haris Rauf star as Pakistan beat Afghanistan in UAE tri-series opener

Salman Agha, Haris Rauf star as Pakistan beat Afghanistan in UAE tri-series opener
Updated 29 August 2025

Salman Agha, Haris Rauf star as Pakistan beat Afghanistan in UAE tri-series opener

Salman Agha, Haris Rauf star as Pakistan beat Afghanistan in UAE tri-series opener
  • Skipper Agha’s unbeaten 53 and late stand with Nawaz lift Pakistan to 182-7 in Sharjah
  • Rauf takes 4-31, including Rashid Khan’s wicket, as Afghanistan fall 39 runs short of target

SHARJAH: Skipper Salman Agha hit an unbeaten half century and fast bowler Haris Rauf grabbed four wickets as Pakistan upstaged Afghanistan by 39 runs in the tri-series opener in Sharjah on Friday.

Agha hit a 36-ball 53 not out with three sixes and as many boundaries which lifted Pakistan to 182-7 in their 20 overs.

Pacers Rauf took 4-31 and Shaheen Afridi 2-21, while spinners Mohammad Nawaz (2-23) and Sufiyan Muqeem (2-25) dismissed Afghanistan for 143 in 19.5 overs before a noisy capacity 16,000 crowd at the Sharjah stadium.

Afghanistan matched Pakistan with opener Rahmanullah Gurbaz, 27-ball 38 with a six and three boundaries, adding 51 for the second wicket with Sediqullah Atal, who made 23.

It was Rauf who changed the game with a two-wicket 12th over sending Atal and Karim Janat back without conceding a run.

Afghanistan skipper Rashid Khan smashed five sixes and a four in his whirlwind 16-ball 39 but fell to Rauf to end his team’s fight.

Earlier, Pakistan was lifted by Agha’s fourth T20I half century.

Agha anchored the innings admirably well after opener Sahibzada Farhan smashed two sixes and a boundary in his 10-ball 21 after Pakistan won the toss and batted.

Agha added 53 for the fifth wicket with Nawaz whose 11-ball 21 had two sixes and a boundary as the duo helped Pakistan get 51 runs in the last five overs.

Pakistan play hosts United Arab Emirates on Saturday.

All three teams face other each other twice with the top two playing the September 7 final.


Pakistan PM to leave Saturday for six-day China visit to meet President Xi, attend regional summit

Pakistan PM to leave Saturday for six-day China visit to meet President Xi, attend regional summit
Updated 29 August 2025

Pakistan PM to leave Saturday for six-day China visit to meet President Xi, attend regional summit

Pakistan PM to leave Saturday for six-day China visit to meet President Xi, attend regional summit
  • Visit includes addressing business-to-business conference in Beijing to boost trade, investment ties
  • Sharif will also meet PM Li Qiang, attend the Shanghai Cooperation Organization summit in Tianjin

ISLAMABAD: Prime Minister Shehbaz Sharif will leave on Saturday for a six-day visit to China, from Aug. 30 to Sept. 4, to attend a regional summit and hold meetings with President Xi Jinping and Premier Li Qiang, with political, economic and investment ties topping the agenda, the foreign ministry said Friday.

The visit underscores the strong and multifaceted partnership between the two countries, which spans defense, diplomacy and economic cooperation.

China has long been Pakistan’s largest investor and its closest strategic ally, anchored by the multibillion-dollar China-Pakistan Economic Corridor (CPEC). Both sides are working to advance into “CPEC 2.0,” focused on industrialization, agriculture, energy and connectivity.

“In China, the Prime Minister would hold meetings with President Xi Jinping and Premier Li Qiang during which multifaceted dimensions of Pakistan-China bilateral cooperation would be discussed,” the foreign office said.

“He would also attend the military parade with President Xi and other world leaders being held in Beijing to commemorate the 80th anniversary of the World’s Anti-Fascist War,” it added, using a term widely employed in China to describe World War II.

The statement said Sharif would also interact with Chinese business leaders and corporate executives to discuss trade and investment and address a Pakistan-China Business-to-Business (B2B) Investment Conference in Beijing.

Sharif’s engagements are part of leadership-level exchanges that both governments describe as vital to maintaining their “all-weather strategic cooperative partnership.”

The foreign office said the visit will reaffirm support on core interests, strengthen bilateral cooperation and ensure regular consultations on regional and global developments.

The prime minister will also attend the Shanghai Cooperation Organization (SCO) Council of Heads of State Summit in Tianjin during the trip, alongside other regional leaders.

Sharif also visited China in June 2024, when he held talks with Xi and Li in Beijing, toured cultural and educational sites in Xi’an, and announced that 1,000 Pakistani students would receive agricultural training in China.

That five-day trip included meetings with leading Chinese companies in the energy and technology sectors, as the government strives to encourage foreign investors to explore manufacturing and other opportunities in Pakistan.


Punjab farmers left in despair as floods wipe out fields and herds

Punjab farmers left in despair as floods wipe out fields and herds
Updated 29 August 2025

Punjab farmers left in despair as floods wipe out fields and herds

Punjab farmers left in despair as floods wipe out fields and herds
  • Over 25 villages have been submerged in Wazirabad, displacing nearly 8,000 residents
  • Many residents fear more rainfall in northern India could trigger further devastation

WAZIRABAD: The deadly floods that have ravaged Pakistan’s Punjab province have not only claimed about 20 lives but have also devastated the livelihoods of countless others, with families watching helplessly as their crops were swallowed by floodwaters and livestock swept away.

With the lifelines of their survival vanishing in moments, what remains is a haunting landscape of destruction, despair and the silent grief of those left behind.

The floods began in the eastern province of Punjab on Monday when heavy rains triggered sudden water releases from Indian dams on the Sutlej, Chenab and Ravi rivers, making it the worst deluge for the region in about four decades.

In Wazirabad district, heart-wrenching scenes are visible everywhere, with more than 25 villages submerged and nearly 8,000 residents displaced. People mourn the loss of their crops and cattle, and on Friday, two days after the record-breaking flood in the Chenab River, many were still trying to move their animals to safety while watching their submerged rice fields with helpless eyes.

One man, Muhammad Afzal, a resident of the Koth Kahlu area, had been planning to marry one of his two daughters after harvesting his rice crop, but those dreams now lie in ruins.

“Suddenly, so much water came with a great speed that we have never seen in our lives,” he told Arab News. “We got the warning late, and our livestock was swept away. Everyone lost 10, 15, 20 animals.”

A photo taken on August 29, 2025, shows a flood-damaged road in Wazirabad district of Punjab province, Pakistan. (AN Photo)

He added his entire year’s harvest had been destroyed:

“I cultivated rice on 117 acres and corn on 20 acres, but it’s all finished. This is Allah’s will regarding what will happen.”

Punjab is considered the breadbasket of Pakistan due to its significant contribution to the country's agriculture, particularly in staple crops like rice and wheat. The ongoing floods now pose a severe threat to Pakistan’s already struggling economy, with agriculture accounting for 23 percent of the country’s GDP.

Zeeshan Khokhar, a local journalist covering the catastrophe, described the emotional toll on residents.

"I have seen countless people in tears over the past two days," he said. "Many refused to leave their beloved homes and livestock despite repeated pleas from rescue workers."

Another local, Furqan Ahmad, shared his loss, saying he lost his cow and his entire rice crop grown on five acres of land.

“Rescue teams didn’t come in time," he added, his voice heavy with sorrow. "I tried everything, but I couldn’t save my animal.”

Many people have complained that their surviving animals were swept away by the floodwaters into other areas, but there is no way to retrieve them.

Those currently in possession of the animals are making their own claims, and without a proper identification system, it is nearly impossible to prove ownership.

“There’s no way to tell which buffalo belongs to whom,” one of them lamented.

Farmers in the area also expressed frustration over the already low wheat prices this year, saying the floods have completely crippled them financially.

Many have been forced to migrate to urban centers along with their remaining livestock in search of safety and support.

Meanwhile, those who have stayed fear that further rainfall in the upper regions of neighboring India could unleash even more devastation in the coming days.

Although Punjab Chief Minister Maryam Nawaz has promised compensation for farmers affected by the floods, many remain skeptical, pointing out that similar promises in the past were never fulfilled.

This aerial photograph shows commuters driving on a bridge as floodwaters flow through the Ravi river following a rise in water levels near residential areas in Shahdara, Lahore on August 29, 2025. (AFP)

Authorities are now working to provide relief supplies, medical assistance, and temporary shelters for the affected populations.

Efforts are also underway to prevent the outbreak of diseases — particularly waterborne and skin infections — in the flood-impacted regions.


Pakistan threatens action against resorts, housing societies on riverbeds

Pakistan threatens action against resorts, housing societies on riverbeds
Updated 29 August 2025

Pakistan threatens action against resorts, housing societies on riverbeds

Pakistan threatens action against resorts, housing societies on riverbeds
  • Climate minister vows to assert state authority over wealthy tycoons
  • He says government deploying satellites, drones and AI to track floods

ISLAMABAD: Pakistan’s Climate Change Minister Musadik Malik on Friday warned wealthy business tycoons of action against resorts, hotels and housing societies built on riverbeds after floods inundated the northern and eastern parts of the country.

Swollen rivers in Pakistan’s most populous province, Punjab, have submerged more than 1,600 villages and displaced over 1.1 million people, with about 40 deaths reported in the region since Aug. 15, according to the National Disaster Management Authority (NDMA).

Mass evacuations began after heavier-than-usual monsoon rains and the release of water from overflowing dams in India triggered flash floods in low-lying border areas of Pakistan.

Media footage showed water from the Ravi River entering a lavish private housing society in the eastern city of Lahore last night as police urged residents to evacuate immediately.

“This monsoon is our declaration of war. We will not stop now and will remove every obstacle from the river’s path,” Malik said while addressing a televised news conference in Karachi during his visit.

“The prime minister has said no one is stronger than the state and this year you will see it,” he continued. “Now we will see who is stronger — the state or a handful of tycoons.”

He pleaded with the country’s elite to “have some fear” while building housing colonies along riverbanks.

“These are the very places where we should have been preserving water and where rivers should have been allowed to spread and be stored,” he added.

“Every district should have designated wetland zones and protected areas.”

Malik urged people to grow mangroves, wetlands and forests to absorb carbon dioxide from the air.

He lamented that resorts, hotels and housing societies built along riverbanks by wealthy people had become a source of death for the poor.

“When the mansions and illegal complexes of the wealthy collapse, their concrete and timber turn into missiles,” he said.

“Huge boulders, flying like pebbles, come crashing down with the water hitting poor settlements and destroying everything in their way.”

Calling the settlements on riverbanks an “agent of destruction” for the poor, Malik urged the wealthy elite to reconsider their actions and stop building along riverbanks.

He also disclosed that Pakistan was employing the best technology in the world including satellites, drones and artificial intelligence to monitor and tackle floods.

“Drones are hovering over the mountains, satellites are sending images, AI is mapping every possible route water could take next year.”

Around 842 people have been killed in the monsoon season since June 26, with the northwestern Khyber Pakhtunkhwa province recording the highest number of casualties.

Pakistani officials say the current spell is likely to last until at least Sept. 10 and could rival the 2022 floods, which killed more than 1,700 people and caused over $30 billion in damage.


Pakistan’s deputy PM says PIA to launch Manchester flights next month

Pakistan’s deputy PM says PIA to launch Manchester flights next month
Updated 29 August 2025

Pakistan’s deputy PM says PIA to launch Manchester flights next month

Pakistan’s deputy PM says PIA to launch Manchester flights next month
  • Barred from EU and UK after a deadly 2020 crash, PIA resumed flights to Paris in January
  • New Manchester route expected to boost revenue, aiding government’s privatization push

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday announced Pakistan International Airlines (PIA) would launch three to four weekly flights to Manchester in the United Kingdom, saying the revival of the national carrier had been among the government’s top priorities.

Britain removed Pakistan from its Air Safety List earlier this year, clearing the way for Pakistani carriers to seek permits to operate in the UK.

Pakistani airlines were barred from flying to Europe and Britain after a 2020 PIA Airbus A320 crash in Karachi killed nearly 100 people and led to controversial claims about widespread irregularities in pilot licensing.

European regulators lifted their suspension last November after due diligence, enabling PIA to resume operations to Paris in January.

“As you know, just a few months ago, by the grace of God, the UK ... lifted its ban [on PIA flights],” Dar told reporters at a news conference.

“So, the final expected flights [to the UK] are due in the month of September,” he added. “They will start from Pakistan to Manchester, with three to four weekly flights. PIA is preparing for this.”

The deputy PM added flights to Britain would have resumed sooner had the UK still been bound by European Union aviation rules.

He said the government was encouraged by good feedback from the public, noting that at present only British Airways offers direct services, which were limited to Islamabad twice a week.

With more than 1.6 million people of Pakistani heritage living in the UK and thousands of British nationals residing in Pakistan, the Manchester route is expected to ease travel and stimulate bilateral trade.

Britain is Pakistan’s third-largest trading partner, with bilateral commerce worth £4.7 billion.

The new flights are likely to strengthen PIA’s balance sheet, potentially raising its value as the government pushes ahead with plans to privatize the loss-making airline.