In response to concerns over panic buying, supply chain disruptions, and hoarding, the Steering Committee for Assessment of Inflationary Trends convened on Thursday to devise an action plan to tackle the recent surge in prices and ensure the stability of essential supplies. The meeting was chaired by Federal Minister for Finance and Revenue, Muhammad Aurangzeb.
The Finance Minister directed relevant institutions, including the National Disaster Management Authority (NDMA), SUPARCO, and Pakistan Bureau of Statistics (PBS), to collaborate with provincial governments on accurate crop damage assessments. Committee members were tasked with investigating the root causes of inflation and submitting actionable recommendations aligned with their respective Terms of Reference (ToRs).
The Ministry of National Food Security and Research will monitor stock levels of essential commodities and provide timely updates to the public via mass media to prevent panic buying. Additionally, a digital dashboard will be used to identify disruptions in the supply chain and instances of hoarding and profiteering, with data shared with law enforcement agencies for swift action.
The Petroleum Division will provide PBS with data on gas consumption to enable more accurate assessments of price pressures. Coordinated measures are expected to stabilize prices, protect vulnerable groups, and curb speculative practices that contribute to inflation.
The committee reviewed the Sensitive Price Index (SPI) and examined the trends in key commodities like onions, tomatoes, rice, wheat, sugar, and edible oil. It was noted that sufficient wheat stocks, excluding strategic reserves, are available. Initial damage assessments of rice and sugarcane crops suggest manageable losses.
The Finance Minister emphasized the importance of monitoring and preventing market speculation to avoid artificial price hikes. The committee also discussed preparations for the upcoming sowing season, stressing the need for timely availability of seeds and agricultural inputs.
The next meeting of the Steering Committee is scheduled for next week to review the progress of the action plan and further ensure price stability.
