Mohammad Arshad Islamabad
The National Price Monitoring Committee (NPMC), Monday, noted that prices of 09 basic commodities registered a decline whereas 30 items remained stable during the week under review.
The NPMC reviewed the price trend of essential commodities especially wheat flour, sugar, edible ghee, chicken and vegetables during the last week.
NPMC met here with Finance Minister Shaukat Tarin in the chair and Finance Secretary apprised that prices of 09 basic commodities registered a decline whereas 30 items remained stable during the week under review.
In compliance with the earlier directions of the Finance Minister, the Pakistan Bureau of Statistics updated the Committee about data collection methodology and presented a detailed working regarding disparity between wholesale and retail prices of essential commodities.
After due deliberation, the NPMC directed PBS to further review its data collection methodology to reflect variation between wholesale and retail levels for basic commodities across different cities accurately.
The Finance Minister also directed PBS to ensure that data must represent and reflect prevailing prices trends including prices prevailing in Ramadan Saastaa/Sahulat Bazars for wide coverage.
The Secretary, M/o NFS&R apprised the Committee about sufficient availability of wheat stocks across the country.
He also briefed about arrangements underway to import wheat for building strategic reserves and to ensure steady supply during the current year.
A summary will be presented before next ECC for requisite approval in this regard, he added.
While taking stock of the situation, the Finance Minister urged all the Provincial Governments to ensure daily release of wheat on subsidized rates in compliance with the directives of the Prime Minister to keep the prices of wheat flour bags in check.