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Weekly meeting of National Price Monitoring Committee held

Chitral Times Report


ISLAMABAD: Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the weekly meeting of National Price Monitoring Committee (NPMC) held at the Finance Division today. Federal Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Razak Dawood, SAPM on Revenue Dr. Waqar Masood, Secretary M/o National Food Security and Research, Secretary M/o Industries and Production, Chairman FBR, Member CCP, Member PBS, MD PASSCO, MD USC, Chairman TCP and senior officials of the Finance Division participated in the meeting. NPMC reviewed the price trend of essential commodities especially wheat flour, eggs, chicken, sugar and edible oil during the week. Secretary Finance briefed the Committee about weekly SPI that recorded a slight increase of 0.81%, whereas prices of 06 items decreased and 21 items remained stable during the last week. Secretary, M/o NFS&R updated NPMC about availability of sufficient stock of wheat across the country. He expressed satisfaction over the average per day releases by the Provinces which was stable throughout the country. Secretary Food, Government of Balochistan apprised the Committee about the arrangements being made for immediate lifting of 20,000 MT wheat from PASSCO. Ministry of Industries and Production briefed the Committee that approx. 80% crushing of sugarcane has been completed during the current season. The carryover stocks plus the latest crushing would ensure sufficient availability of sugar in the coming months. The Ministry further requested the respective Provincial governments to provide projections regarding the future sugar requirement for effective planning during the year. Minister for Industries and Production Hammad Azhar lauded the Utility Stores Corporations (USCs) for covering more than 5 % of the consumer demand for essential items at subsidized rates across the country. The NPMC directed PBS to workout ranking of the districts with reference to price control so that Provincial Governments can take necessary actions accordingly. Finance Minister urged the Provincial Governments and Departments concerned to take all necessary administrative measures to ensure uninterrupted supply of regulated wheat flour throughout the country. He further directed the Provincial and District administrations to proactively monitor the prices of essential commodities to avoid hoarding and black marketing effectively.