NPMC urges provincial govts to control increasing prices, cartelisation

ISLAMABAD: The National Price Monitoring Committee (NPMC) on Friday advised relevant authorities and provincial governments to ensure smooth supply of essential food items at affordable prices and play a proactive role towards keeping cartelisation in check.

The meeting of the NPMC to discuss prices of essential food items was held at the Finance Division under the chairmanship of the additional finance secretary.

Earlier, the meeting was informed that Consumer Price Index (CPI) inflation was recorded at 8.6 per cent in June 2020 year on year over June 2019 and July to June CPI inflation on average rose to 10.7 per cent. 

Inflation in the country had been on a declining trend since May 2020, however, it rose slightly during June 2020 in line with rise in prices in the international markets due to easing down of Covid-19 lockdowns that increased demand.

The Sensitive Price Indicator (SPI) which monitors the price movement of 51 essential items on a weekly basis, recorded an increase of 0.98 per cent for the week ended on July 9, 2020. 

The meeting was informed that the federal government in consultation with all stakeholders is taking proactive measures to control the general price level of daily use items at the federal, provincial and district levels. 

The NPMC chairman discussed the rise in prices of poultry products with all stakeholders and examined the demand and supply dynamics. Provincial governments and Islamabad Capital Territory (ICT) administration were directed to take necessary measures to ensure smooth supply of poultry products at reasonable prices. 

The meeting also discussed the difference in pre Covid-19 and post Covid-19 prices of face masks, sanitisers and oxygen cylinders. The provinces and ICT administration were asked to take necessary measures for the provision of such items at reasonable prices.

The role of middle men was also discussed in detail and it was stressed that high profit margins being charged by middle men were responsible for the increase in general price level of commodities. 

The NPMC chairman appreciated ICT, Sindh and Punjab governments for initiating an online delivery system for essential food items on wholesale prices. The chairman stressed that the same should be replicated by Khyber Pakhtunkhwa (KP) and Balochistan.