Government Pushes CCP to Fast-Track Probe into Suspected Ghee & Cooking Oil Cartel Amid Price Concerns
The federal government has instructed the Competition Commission of Pakistan (CCP) to accelerate its investigation into alleged cartelization within the vegetable ghee and cooking oil sector, as authorities intensify efforts to stabilize prices of essential food items across the country.
The directive was issued during a recent meeting of the National Price Monitoring Committee (NPMC), where officials reviewed food price trends and discussed steps to keep essential commodities affordable for consumers. The Finance Division has been tasked with assisting the CCP to ensure the inquiry is completed swiftly and its findings presented to the NPMC without delay.
According to CCP officials, the investigation into possible cartel-like practices in the edible oil sector is ongoing, and a detailed report will be shared once finalized. The meeting—chaired by Minister for Planning Ahsan Iqbal—also instructed the Ministry of National Food Security, Ministry of Industries, and provincial governments to prepare a coordinated strategy for maintaining stable food prices ahead of the holy month of Ramazan.
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Additionally, the State Bank of Pakistan (SBP) was assigned to present a comprehensive report in the next meeting on loan disbursements to farmers in flood-affected regions, including district-level data and a breakdown of farm and non-farm financing.
To tackle storage and supply challenges, the Ministry of Industries & Production has been directed to draft a plan promoting private-sector investment in cold storage facilities for essential food items. Meanwhile, the Islamabad Capital Territory (ICT) administration will brief the committee on the widening gap between wholesale and retail prices of key commodities and propose measures to address the disparity.
During the session, the chief statistician shared an analysis of inflation patterns, the effects of recent floods on food prices, and fluctuations between wholesale and retail markets. While essential staples like wheat flour, rice, pulses, and beef showed price stability, the committee highlighted continued volatility in lentils, soybean oil, wheat, sugar, and fertilizers such as DAP and urea.
