Saturday , January 23 2021
Breaking News
Home / Uncategorized / Hafeez presides over meeting to review price trend of essential commodities
Hafeez presides over meeting to review price trend of essential commodities

Hafeez presides over meeting to review price trend of essential commodities

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired a meeting of National Price Monitoring Committee (NPMC) today. Minister for Industries and Production Hammad Azhar, SAPM on Revenue Dr. Waqar Masood, Federal Secretary Finance, Federal Secretary National Food Security and Research, Secretary Industries and Production, Secretary Commerce, Chairman TCP, MD PASSCO, Chairperson CCP and Manager Utility Stores Corporation also participated in the meeting. The Provincial Chief Secretaries joined the meeting through video link.

The National Price Monitoring Committee (NPMC) reviewed the price trend of the essential commodities namely wheat flour, sugar, tomatoes, onions, vegetable ghee, potatoes and chicken on weekly basis. The Finance Secretary while presenting the price trend of essential commodities informed that according to latest SPI released by PBS, there is decline in the prices of 10 essential commodities for instance wheat flour, sugar, onions, tomatoes and chicken while the prices of 11 commodities have increased slightly. Price of 30 items remained stable. Adviser Finance expressed satisfaction over declining price trend in wheat flour, sugar, onion and tomatoes as compared to October 2020.

During the meeting, Adviser Finance urged the need to take necessary administrative measures to reduce high profit margin between Wholesale and Retail levels. It is our responsibility to ensure availability of the essential items for the consumers at affordable prices, he stressed.

The Chair held a detailed discussion with the Provincial Chief Secretaries regarding position of wheat and sugar stocks in the Provinces and it was informed that at present, sufficient quantities are available to meet existing demand. Adviser Finance emphasized the provincial governments to ensure smooth supply of essential items.

Secretary National Food Security and Research presented a brief update on import of wheat during the meeting. The Logistics Committee played a key role in resolving issues related to wheat and sugar stocks among provinces, he underlined.

Provincial governments and USC should reassess their import requirements for wheat and sugar and take up with the Ministry of NFS&R accordingly and the matter may be placed before ECC for approval. Ministry of Industries & Production will take up the requirement of wheat and sugar for USC with PASSCO & TCP immediately.

The Chair appreciated the efforts being taken by all the Federal Ministries, Provincial Governments and other relevant stakeholders for price control. He added that the same momentum must be maintained to provide maximum relief to the general public. He also stressed that Provincial governments should workout plan to ensure smooth supply of perishable items to avoid any undue price hike.