Govt taking range of measures to absorb inflationary pressure

Staff Reporter

Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin said Wednesday that the government was taking a range of administrative, policy and relief measures to absorb the upward pressure on prices of basic food commodities globally.

Presiding over the National Price Monitoring Committee (NPMC) meeting here, the adviser said the government was also taking all possible measures to ensure smooth supply of essential commodities throughout the country.

The adviser commended the efforts of the representatives of the Punjab government and Islamabad administration, however expressed deep concern over the significant price differential in wheat flour prices in Sindh province as compared to other provinces.

He directed the Provincial Chief Secretary Sindh to expedite the process of daily releases of wheat at the price determined by the government to ease out pressure on prices.

The Adviser reiterated the firm commitment of the government to ensure smooth supply of wheat flour across the country at government specified price.

Earlier, Secretary Finance briefed the NPMC about the weekly SPI situation which has been increased by 1.38% during the week under review.

While reviewing the price trend of essential commodities, the Secretary Finance apprised that the rise in global food commodities and petroleum prices has affected the prices of essential food items worldwide.

Prices of 07 essential commodities registered decline whereas prices of 15 items remained stable during the last week, he added.

The Secretary Finance further updated the NPMC that the prices of the wheat flour bags remained consistent at Rs. 1100 per 20 kg due to the proactive measures of the Punjab Government and ICT administration.

The Chief Secretary, Punjab apprised the NPMC that the crushing of sugarcane would begin by November 15 in Punjab.

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