ISLAMABAD, Pakistan: The Federal Minister for Finance and Revenue Dr. Abdul Hafeez Sheikh chaired the meeting of the National Price Monitoring Committee (NPMC) in Islamabad on Monday.
The Prime Minister’s Adviser on Commerce Abdul Razaq Dawood, the Prime Minister’s Special Assistant on Revenue Dr. Waqar Masood, the Secretary at the Ministry of National Food Security & Research (MNFS&R), the Special Secretary Commerce, the Additional Secretary Industries and Production, the Chairman Federal Board of Revenue (FBR), the Provincial Chief Secretaries, the Managing Director PASSCO, the Managing Director Utility Stores Corporation (USC), the Chairperson Competition Commission of Pakistan (CCP), the Chairman Trading Corporation of Pakistan (TCP), the Member Pakistan Bureau of Statistics (PBS), and Senior Officials of the Finance Division participated in the meeting.
The NPMC reviewed the price trend of essential commodities, and it was apprised by the Finance Secretary that there has been a consistent decline in the weekly Sensitive Price Index (SPI) over the last four weeks.
The SPI registered a decline of 0.22%, notably in essential food commodities namely wheat, tomatoes, onions, potatoes, and chicken.
The finance minister noted the increase in prices of eggs and vegetable ghee and urged the provincial governments to strictly monitor their prices.
The Chair further directed the Secretary Commerce to call a meeting with representatives of the provincial governments and the FBR to take further steps in this regard.
During the meeting, the Secretary MNFS&R presented before the NPMC the current status of wheat and sugar stocks. The improved availability of both commodities has resulted in a significant decline in prices for the consumers.