Lahore Retailers and General Merchants Association (LRGMA) has welcomed the suo motu notice taken by the Supreme Court against price hike and offered that if the government reduces rates of lentils, ghee, sugar and flour according to the directives of the court, the Lahore retailers would also bring down their profit ratio.
This offer was made in a meeting of the Association held with its President Rao Muhammad Akram Khan in chair here on Wednesday, disclosed a spokesman. The meeting was addressed by Association General Secretary Chaudhry Azmat, Vice-Presidents Malik Siddique, Mian Muhammad Hanif, Muhammad Asif and others.
The meeting appreciated the notice taken by the Supreme Court and urged the government to provide subsidy to the masses by bringing down its non-development expenditures and unnecessary advertisement. It was decided in the meeting that if the government reduces prices according to the directives of the Supreme Court, the retailers would charge five percent profit instead of 10 percent.
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