Overpricing Overpricing is the act of setting a higher price than the value of a product or services. From an entrepreneurial standpoint, overpricing means setting a price that’s higher than what the market is willing to pay. In most cases, overpricing goes hand in hand with low sales volumes, and so it is not a commonly recommended pricing strategy.In Kashmir overpricing has been a serious issue . This issue breaks the economic backbone of the masses.
Amid complaints about overpricing of essentials, the government has sealed over 50 shops and also recovered over Rs five lakh fine from the norm violators in the ongoing holy month of Ramadan.According to the data available the Directorate of Food, Civil Supplies and Consumer Affairs (FCS&CA) has sealed a total of 54 shops in the ongoing month while 23 have been sealed in Srinagar only.The other districts where the shops have been sealed include Bandipora, Budgam, Kulgam, Kupwara and Pulwama districts.Earlier, The Jammu and Kashmir administration had said that market checking committees have been constituted in view of the complaints regarding the selling of essential commodities at exorbitant rates in the holy month of Ramazan.The need of the hour is to check the menace of rising prices of especially essential commodities and go hard on hoarding and overpricing by the Shopkeepers .The prices of large number of vegetables and fruits which are being consumed by the people including dates, watermelons, bananas, meat and chicken have gone up since the commencement of the holy month. One hopes overpricing would soon be a thing of past in Kashmir.
