A-PM-FR, as per SPI trend, orders price control

By Staff Reporter
Tuesday – November 24, 2020
ISLAMABAD: The finance secretary Naveed Kamran Baloch presenting the price trend of essential commodities, Monday, informed that according to latest sensitive price indicator (SPI) released by Pakistan Bureau of Statistics (PBS), there is decline in the prices of wheat flour, sugar, onions while the prices of tomatoes, potatoes and chicken slightly increased, it was informed that prices of vegetable ghee remained unchanged.

According to a press release, adviser to prime minister on finance and revenue (A-PM-FR) Abdul Hafeez Shaikh chaired the meeting of national price monitoring committee (NPMC).

The NPMC reviewed the price trend of essential commodities: wheat flour, sugar, tomatoes, onions, vegetable ghee, potatoes and chicken on weekly basis.

The committee was also informed about the price variation among the provinces and the profit margin between wholesalers and the retailers.

A-PM-FR Shaikh held a detailed discussion with the provincial chief secretaries regarding position of wheat and sugar stocks in the provinces, NPMC was briefed that sufficient quantities are available countrywide.

He emphasised that the provincial governments and all other concerned authorities take immediate proactive measures to control increase in prices.

A-PM-FR Shaikh urged the representatives of the provincial governments to strictly monitor the difference between retail and wholesale prices in various commodities to ensure availability of the essential items for the consumers at affordable price.

Sindh chief secretary informed that wheat flour and sugar prices have declined in the province which will further stabilise in coming weeks.

He also briefed that the Sindh government has established fair price shops to provide relief to general public.

However, the chicken prices are slightly increasing and they are taking corrective measures accordingly.

Punjab additional chief secretary informed that the prices of tomatoes are fluctuating due to seasonal factors but it will stabilise in coming weeks.

He further briefed that the prices in the 360 Sahulat Bazar are low as compared to open market.

He continued that the government of Punjab is releasing wheat as per policy as a result the flour wheat prices have stabilised.

Khyber Pakhtunkhwa (KP) chief secretary informed that they are releasing 5,000 tons wheat daily as a result the prices of wheat flour bag have come down from Rs 20 to Rs 30 in the market.

It was also informed that local production of tomatoes in KP has started coming in the market; it is expected that in coming weeks the supply of tomatoes will increase significantly which will bring major decline in the price.

The Punjab and the Sindh governments also briefed about the new crushing season of sugarcane and underlined that price of sugar will be reduced further due to availability of the local produce in the coming months.

The utility stores corporation (USC) managing director (MD) apprised NPMC about the sufficient stocks of sugar and wheat at the utility stores countrywide at subsidised price.

The industries and production minister (IPM) Hammad Azhar, adviser to prime minister on commerce (A-PM-C) Abdul Razaq Dawood, special assistant to prime minister (SAPM) on revenue Waqar Masood, finance secretary, national food security and research (NFSR) secretary, industries and production secretary, commerce secretary, Trading Corporation of Pakistan (TCP) chairman, Competition Commission of Pakistan (CCP) chairperson and the USC-MD participated, the provincial chief secretaries joined the meeting through a video link.