Federal Minister for Finance and Revenue, Shaukat Tarin here on Monday appreciated the efforts of the governments of Punjab, Khyber Pakhtunkhwa, Balochistan and Islamabad administration in providing essential items at discounted rates at Sasta and Sahulat bazaars.
Presiding over the meeting of National Price Monitoring Committee (NPMC), the minister also expressed satisfaction on the contribution of Sindh government for providing essential items at discounted rates in Sahulat bazaars.
He commended the efforts being undertaken for stabilizing the prices of essential items successfully and measures to ensure smooth supply of essential commodities throughout the country, according to press statement issued by the finance ministry.
Earlier, Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed an increase of 1.10% as compared to decrease in previous week by 1.37%. it was informed that 33 food items contributed increase in the SPI by 1.07%, whereas 18 non-food items contributed increase of 0.03% to the SPI.
NPMC was apprised that the prices of 08 items declined, 18 items remained stable and prices of 25 items increased. The commodities that witnessed declined in prices included garlic (0.06%), tomatoes (0.02%), eggs (0.06%), LPG (0.05%), gur (0.0004%), sugar (0.01%) and gram pulse (0.0004%) and contributed 0.20% in decline of SPI during the week under review.
However, spike was witnessed in the prices of chicken (0.35%), vegetable ghee (0.22%), cooking oil (0.23%), potatoes (0.01%), wheat (0.16%) and others (0.33%) which contributed 1.30 percent increase in SPI.
NPMC was informed that prices of garlic, tomatoes, eggs, LPG cylinder, gur, sugar, pulse gram, pulse masoor have shown decline in the prices during the last week. It was informed that prices of tomatoes have reached to the prices as four years earlier.
The NPMC was updated on the wheat flour prices in the country. It was informed that there was increase in the prices of wheat flour in Karachi which has impacted the national average price. The Chair was apprised on the stock position of wheat in the country which is sufficiently available.
However, keeping the fresh arrival of Wheat stocks and future consumption, the Chair directed Ministry of National Food Security and Research (NFS&R) to workout realistic data on wheat production, in consultation with the provincial authorities to assess the accurate future requirement of wheat for imports. The representative of Balochistan government apprised the meeting on the sufficient availability of wheat stock in the provinces.
NPMC was also apprised on the sugar prices in the country on which Tarin asked the Secretary Ministry of Industries and Production (I&P) to expedite the process of building strategic reserves of sugar through local procurement as approved by ECC.—APP