Saqib Jivani

15299

Hike in prices of domestic commodities – A survey in Liaquatabad Vegetable and Fruit Market

Introduction:
Liaquatabad also known as Laloo Khait or Lalukhet, is a densely populated area surrounded by
several commercial zones. Its markets are known for a range of products including furniture,
clothing, shoes and jewellery. For my economics project I have visisted Lalukhet market on
Saturdays of October starting from 19/10/2019 to 12/12/2019. Majorly I have focused on
Saturdays to investigate if the prices are high on a weekend than regular days.
Reason of Price Hike:
I have chosen tomato, Potato, Onion and Garlic. These are four basic necessities of food
preparation. The prices were relatively very high as one of the seller mentioned that they have
sold tomatoes 500/kg. This was surprising because how is it possible for a man who earns
minimum could afford to buy tomatoes!. The reasons which were highlighted during my survey
are as follows: there are major or we can say big players in lalukhet market who runs the fruit
and vegetable market and sets the prices. These prices are set during an auction whoever wins
the auctions sets the price for the whole market. It is important that the prices in mandi
(wholesale market) are very much different and these sellers keep major profits with them.

However, the quality of the vegetables and fruits in the market was good. Also, Lalukhet is the
major market for thousands of nearby residents and a lot of small sellers.

Recommendation:

Once upon a time when in America, people were not supplied with tea and the prices were
extremely high that local people could not afford it, they all boycotted the tea consumption
which created a loss to tea suppliers. If in Pakistan we can also not buy extremely expensive
things then the demand will be low and if demand will be low, which will affect the supplier and
they will lower the prices.