KARACHI (October 2, 2026): President of the Pakistan Businessmen and Intellectuals Forum (PBIF) and All Karachi Industrial Alliance, Chairman of the National Business Group Pakistan, Chairman of the FPCCI Policy Advisory Board and former Provincial IT Minister, Mian Zahid Hussain, has expressed serious concern over the persistent inflationary pressure reflected in the Pakistan Bureau of Statistics (PBS) Monthly Review on Price Indices for September 2026.
He said Consumer Price Index (CPI) inflation stood at 10.3% year-on-year in September 2026, compared with 11.1% in August, while prices increased by another 1.3% month-on-month, indicating that inflationary pressures continued to affect households and businesses despite some moderation in the annual rate.
Mian Zahid Hussain attributed much of the recent inflationary pressure to fluctuations in international petroleum prices amid the US-Iran conflict, saying global energy market volatility was affecting economies worldwide. He also pointed to losses and inefficiencies in state-owned enterprises and electricity and gas utilities as factors adding to the cost burden on Pakistan’s economy.
According to the PBS data cited by him, prices of essential items recorded substantial year-on-year increases in September, including electricity charges by 32.46%, motor fuel by 37.73%, wheat by 40.96% and wheat flour by 31.71%.
He said higher electricity and fuel prices were increasing industrial production costs, transportation expenses, raw-material costs and distribution charges. The rising cost of transporting agricultural produce to markets was also contributing to food-price pressures, while households with limited incomes were being forced to cut spending on other essential needs.
Mian Zahid Hussain said the 13.3% annual increase in Wholesale Price Index (WPI) inflation was another concern for the industrial sector. Rising wholesale prices increase the working capital requirements of businesses, while weak consumer purchasing power limits manufacturers’ ability to pass higher costs on to consumers.
He said small and medium-sized industries were particularly vulnerable to this pressure, warning that prolonged inflation could discourage investment in machinery, production expansion and job creation. He welcomed the Prime Minister’s petrol subsidy for low-income citizens as a relief measure and called for additional steps to make essential commodities more affordable.
Urging the government to accelerate energy-sector reforms, he said electricity and gas costs should become more competitive with those in regional economies. Electricity theft, transmission and distribution losses, weak recoveries, capacity charges and administrative inefficiencies required structural solutions rather than continued cost transfers to industries and consumers.
He said reliable energy at competitive and predictable rates was essential for export-oriented industries to remain competitive in international markets. Repeated increases in electricity tariffs and additional charges were creating uncertainty for businesses and making it difficult for industries to plan production, export orders and long-term investment.
Mian Zahid Hussain also called for stronger coordination between federal and provincial governments to contain food inflation. He proposed the development of a digital commodity dashboard containing reliable data on stocks, market arrivals, commodity movements and demand for wheat, flour and other essential items.
Such a system, he said, could enable authorities to identify supply shortages and market disruptions in a timely manner and take action against artificial shortages, hoarding and profiteering. He also stressed the need for improved commodity storage, cold-chain facilities for perishable goods, efficient transportation and better market systems to reduce food wastage and excessive intermediary costs.
He said that after achieving macroeconomic stability, which has also been acknowledged by international institutions, government policy must now focus on delivering microeconomic stability for households and businesses.
He stressed that sustainable improvement would depend on stronger industrial activity, higher exports and growth in real incomes. Targeted relief should reach low-income households, while public resources should increasingly be directed towards productive sectors by reducing the burden of capacity charges, line losses and unnecessary expenditure associated with inefficient state-owned enterprises.
Mian Zahid Hussain said an effective anti-inflation strategy should focus on fiscal discipline, energy-sector reforms, stronger supply chains, improved market management and lower business costs, so that macroeconomic stability translates into tangible relief for citizens and a more competitive environment for businesses.
