ISLAMABAD, Pakistan: The Federal Minister for Finance & Revenue Dr. Abdul Hafeez Sheikh chaired a Virtual Meeting of the National Price Monitoring Committee (NPMC) in Islamabad on Monday to review the price trend of essential commodities.
The meeting was attended by the Minister for Industries & Production Hammad Azhar, the Prime Minister’s Special Assistant on Revenue Dr. Waqar Masood, the Provincial Chief Secretaries, the Secretary Planning Development & Special Initiatives, the Secretary Industries & Production, the Chairman Federal Board of Revenue (FBR), the Additional Secretary at the Ministry of National Food Security & Research (MNFS&R), the Joint Secretary Commerce, the Chairperson Competition Commission of Pakistan (CCP), the Chairman Corporation of Pakistan (TCP), the Managing Director PASSCO, the Managing Director Utility Store Corporation (USC), the Member Pakistan Bureau of Statistics (PBS), and Senior Officers of the Finance Division.
The Finance Secretary briefed the NPMC that there has been a nominal increase in the weekly Sensitive Price Index (SPI) by 0.11%.
The prices of 10 basic items decreased notably onions, potatoes, and chicken whereas eggs, wheat flour, and tomatoes registered a slight increase during the week.
The Ministry of National Food Security & Research updated the NPMC about the current status of wheat and sugar stocks.
The improved availability has ensured a steady supply of both commodities across the Country. The wheat stock position is sufficient for domestic consumption and the average per day release to the provinces is also satisfactory.
The Chair directed the Provincial governments to keep a close watch on the prices of wheat in the market to avoid hoarding, black marketing, and smuggling to ensure an uninterrupted supply of wheat at affordable prices.
The Finance Minister noted the increase in prices of eggs, wheat flour & tomatoes and directed to take all possible measures to bring down the prices of these essential items.
Hammad Azhar apprised that they are closely monitoring the prices of sugar and edible oil to ensure uninterrupted supply at fair prices.
The Chair emphasized increased coordination among all government functionaries for efficient monitoring of prices of essential items to provide maximum relief to the general public.