Srinagar: Consumers in the summer capital are facing financial strain as the prices of essential commodities, particularly bakery products, mutton, poultry, and other essential items skyrocketed on the eve of Eid-ul-Fitr.
This surge in prices comes amidst the absence of government regulations, allowing traders to exploit the situation and charge exorbitant rates. Concerns have been raised regarding the impact of this deregulation on vulnerable segments of society, including low-income families and individuals already grappling with financial constraints.
The sudden surge in prices not only strains household budgets but also threatens to dampen the spirit of Eid-ul-Fitr celebrations, as families struggle to afford essential items. A recent market survey conducted revealed that essential items are being sold at 20 to 30 percent higher rates, taking advantage of the deregulation of price lists by the government.
For instance, some places in Srinagar are witnessing prices as high as Rs 800 per kilogram for cookies, reflecting the widespread inflationary trends across the market.
A senior official told that there should be a government regulation in Jammu and Kashmir as it is a consumer UT. “Traders will be setting a price for all essential commodities. Most of them will take advantage of it. Even eggs are being imported from other states. 50 percent of poultry also comes from outside the states,” he said.
Despite consumer outcry, government officials have cited limitations in their ability to regulate prices. Altaf Ahmad, a resident of Downtown Srinagar, expressed concerns over the unregulated prices, and said that the soaring costs are making it difficult for families to afford necessities.
“Why do mutton and bakery items suddenly become akin to life-saving drugs on Eid, despite overnight price hikes of 20 to 30 percent by some renowned outlets? People swarm and swarm, allowing this unfair trade to flourish,” Mir Fareed wrote on his Facebook handle.
Meanwhile, Assistant Food and Safety Commissioner, Yamin ul Nabi told that their department primarily focuses on food safety issues, not price regulations. CAPD Director Abdul Rashid War told that setting price lists is not within their department’s purview.
