Tarin directs provinces to inject sugar into market to lower prices

Finance advisor had urged early sugarcane production to help mitigate sugar shortage a day earlier

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has directed all the provinces to meet the demand by immediately lifting imported sugar and injecting it into the market so that local prices come down.

The PM’s advisor was chairing with the National Price Monitoring Committee (NPMC) meeting held at the Finance Division here on Wednesday.

While reviewing the sugar situation, the secretary Finance informed that prices are easing out in Punjab due to proactive measures of the government. 

The secretary Finance briefed the meeting about the weekly SPI situation which has increased by 0.67 per cent during the past one week. While reviewing the price trend of essential commodities, the secretary Finance apprised that prices of three essential commodities registered a decline whereas the prices of 20 items remained stable in the period under review.

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He apprised the meeting that prices of essential commodities also registered a decline in prices as compared to the same month of last year whereas the prices of wheat flour bags remained consistent at Rs1,100 per 20 Kg due to the proactive measures of the Punjab government and ICT administration.

The Adviser Finance commended the efforts of the representatives of the Punjab Government and Islamabad administration and expressed concern over the significant price differential in the wheat flour prices in Sindh and Balochistan Province as compared to other Provinces.

He advised the Provincial Chief Secretaries of Sindh and Balochistan to increase the daily releases of wheat to improve the supply situation in the markets. The Adviser reiterated the firm commitment of the Government to ensure smooth supply of wheat flour across the country at government specified rate.

While reviewing the price trend of basic commodities, the Adviser to Prime Minister on Finance and Revenue Shaukat Tarin stated that the Government has taken a range of administrative and policy measures and by managing supply and demand chains, the prices of daily commodities are controlled as compared to the last year. 

Earlier on Tuesday, Tarin had hinted at providing relief to the sugar industry but called for start of the production “at the earliest” to keep the demand and supply in balance.

In this regard, the advisor had held a meeting with a delegation of Pakistan Sugar Mills Association (PSMA) at the Finance Division.

The advisor had assured the delegation of addressing all their issues by regular coordination and mutual cooperation between both the sides and emphasised that providing essential items to the common man at a reasonable price is the focus of the present government and that all out efforts are being made in this regard.

 

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