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ISLAMABAD: Federal Minister for Finance and Revenue, Dr Abdul Hafeez Sheikh has directed the provincial governments to continue the momentum of strict price monitoring for the provision of basic items at affordable prices in the country.
While chairing the National Price Monitoring Committee (NPMC) meeting, the minister said, “The government is taking every possible measure to provide relief to the people of Pakistan.”
According to a press statement issued by the Finance Ministry, he also directed the Logistics Committee, constituted by Economic Coordination Committee, to apprise him of the supply of wheat and sugar in the country on regular basis.
Dr Hafeez Sheikh also expressed satisfaction over the recent decline in the prices of essential items. He assured his full cooperation in resolving the difficulties in the provision of wheat and sugar wherever it is needed.
The committee reviewed the price trend of essential commodities especially wheat, sugar, eggs and edible oil. Secretary Finance briefed NPMC that prices of wheat and eggs have registered a downward trend due to coordinated and consolidated efforts of the Provincial governments.
Federal Minister for NFS&R briefed NPMC about the current status of wheat stock across the country and assured that all possible measures would be taken to ensure an uninterrupted supply of wheat at affordable prices.
Hammad Azhar apprised NPMC that production of sugar was likely to increase this year due to improved sugarcane crushing activity and would eventually release pressure on the upward price trend. He also briefed NPMC about the steps being taken to control the prices of edible oil.
The representative from the Punjab government briefed that strict action has been taken against the role of middlemen in the sugarcane market as directed by NPMC.
He informed that prices of sugar are currently stable in the Province, however, in some areas marginal hike is observed due to fog and weather conditions. Minister for Industries and Production appreciated the efforts of the Punjab Government in minimizing the role of middlemen.
Member PBS presented before NPMC a live dashboard of prices of essential items for comparative analysis which would be helpful in monitoring prices of essential items across major cities and markets in real-time.
The system is prepared by PBS to monitor food prices and figure out price fluctuations for timely decision making and smooth coordination among Provincial governments and departments concerned.
The Finance minister appreciated the mechanism for effective price monitoring and sound decision making. Earlier, Prime Minister Imran Khan had approved proposed measures aimed at controlling rising prices of basic commodities’ in the country. The meeting mulled over measures to reduce the prices of wheat, sugar, and other essential commodity items.
