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Duties to be lifted to contain food price hike: Dar

ISLAMABAD: Finance Minister Ishaq Dar has warned that taxes/levies on import of potatoes will be lifted to bring its price to around Rs 30 per kg if hoarders/speculators did not bring prices to the normal level within three days.

Finance Minister made these remarks while chairing a meeting to review prices of agricultural products in the country. He took notice of the manipulated prices of potatoes at Rs 50 per kilogram in the local market.

The finance minister was informed that there are almost 1.1 million tonnes of surplus potatoes in the country and the prices of potato are being artificially manipulated at a much higher level by the hoarders, speculators and middlemen. He was informed that in the neighbouring country potatoes are being sold at much lesser price.

Dar reiterated his government’s commitment to keep the prices of the essential commodities at appropriate level. He concluded that the profiteers will not be allowed to manipulate excess margins by holding supplies to the market.

The meeting was also attended by Federal Minister for National Food Security & Research Sikandar Hayat Khan Bosan, Finance Secretary Dr Waqar Masood, Advisor to the Finance Ministry Rana Assad Amin, Special Assistance to Finance Minister Shahid Mahmood and other senior officials of the Federal and Punjab government.


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