PR No. 124Finance Minister Calls Upon Provincial Governments To Check Price Hike Islamabad: December 11, 2015
The Federal Minister for Finance Senator Mohammad Ishaq Dar, in his capacity of Chairman of National Price Monitoring Committee, has called upon the Provincial Governments to keep a vigilant eye on increase in the prices of different commodities under the pretext of additional revenue measures that became effective on 1st December 2015. The National Price Monitoring Committee reviews the prices of essential commodities of daily use on a regular basis.
In separate letters addressed to the Chief Ministers of the provinces, the Finance Minister expressed his concern that subsequent to the announcement of additional revenue measures some instances of profiteering and increase in prices of products of daily use by unscrupulous elements had been brought to his notice. The Finance Minister desired that the relevant provincial departments as well as district administration be instructed to “ensure that no unwarranted and unjustified price increase takes place for locally produced goods as well as items of use by common man under the pretext of revenue measures”.
The Finance Minister wrote that the additional revenue measures were necessitated to ensure that there was no cut in provincial transfers or slashing of necessary expenditure on security, development and social safety. It was further clarified that no duty or tax was imposed /enhanced on locally produced items (except cigarettes) or items used by the common man as almost all the additional revenue measures targeted imported non-essential and luxury items. There was, therefore, no justification whatsoever in increasing price of locally produced items and items used by the common man.