In a shocking revelation, Pakistani consumers are reportedly being overcharged by up to Rs175 per kilo on cooking oil and ghee, even though international prices have dropped significantly.

The federal government has taken serious notice of the situation, with the Economic Coordination Committee (ECC) expected to launch a formal investigation soon.

According to reports, prices of cooking oil and ghee in the global market have plummeted by as much as 25%. However, instead of passing on the benefit to consumers, local companies have allegedly continued to raise prices. The cooking oil and ghee industry in Pakistan is now under scrutiny for possibly forming a price-fixing cartel.

Despite the drop in international prices, Pakistani citizens are still being charged an extra Rs150 to Rs175 per kilo on cooking oil and ghee, a burden that's hitting already stretched household budgets. The ECC is actively reviewing the situation and is expected to take decisive steps to curb this unfair pricing.

There’s a strong possibility that the Competition Commission of Pakistan (CCP) will be tasked with investigating cartelization within the cooking oil and ghee industry, as suspicions of coordinated price manipulation grow stronger.

If proven true, this could lead to significant penalties for the companies involved and a long-overdue price correction that brings much-needed relief to consumers.