CCP finds cartel behind surge in milk prices
The Competition Commission of Pakistan has completed its inquiry report on inflated prices of dairy products accusing dairy mafia of the illegal hike, reported 24NewsHD TV channel.
According to the CCP inquiry report, dairy mafia is responsible for the surge in prices of dairy products. It said that a cartel of three associations caused the illegal hike in the prices. The illegal surge in milk prices is inflicting consumers a loss of Rs130 million per day and Rs47 billion annually.
The inquiry report said that milk is being sold at Rs120 per liter instead of the government fixed price of Rs94 per liter.
The report said that the milk price illegally surged to Rs120 per liter only in Karachi as compared to Lahore and Islamabad.
The Competition Commission has started an action against the associations that have made a cartel to exploit consumers. These associations are included Dairy and Cattle Farmers Association, Dairy Farmers Association and Karachi Dairy Farmer Association.
Reporter Ashraf Khan