ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has directed the Ministry of Industries and Production to take measures to control the prices of edible oil which have recorded an increase recently.
The PM’s advisor was presiding over the National Price Monitoring Committee (NPMC) meeting held at the Finance Division on Wednesday to review the prices of daily commodities and essential food items in the country.
While reviewing the prices of edible oil, the committee observed that local prices of edible oil were affected due to the increase in prices of the global market.
The adviser directed the Ministry of Industries and Production to make efforts for the availability of strategic reserves of edible oil as well as keeping an eye on the international market and adjust the rates when global prices decline.
The secretary Finance briefed the meeting about the weekly SPI situation which has decreased by 0.67 per cent during the past week. While reviewing the price trend of essential commodities, he apprised that prices of 8 essential commodities registered a decline whereas prices of 23 items remained stable.
The secretary Finance also apprised the meeting that prices of essential commodities tomatoes, onion, potatoes, chicken, and sugar had registered a significant decline during the week under review as compared to the same period of last year.
Similarly, the price of the wheat flour bags remained consistent at Rs1,100 per 20 kg due to proactive measures taken by the Punjab and KP governments and the ICT administration. “The daily release of wheat by provincial governments will further ease out wheat prices at national level,” he added.
The Punjab chief secretary further added that sufficient stocks of wheat are available and are being released accordingly.
Tarin advised all provincial governments to ensure that the released wheat is being converted into flour and made available in markets at the government notified price.
While reviewing the price of sugar in the country, the secretary Finance informed that prices are decreasing in the country while new stocks of sugar arriving in the market will further lower the prices.
While reviewing the production of pulses, it was informed that moog pulse production has increased as compared to last year. However, the finance advisor directed the authorities concerned to increase production to reduce the burden on imports.
Shaukat Tarin expressed further directed to all provincial governments to establish more Sasta and Sahulat Bazaars in other cities to provide maximum relief to the people.
