Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over the meeting of National Price Monitoring Committee (NPMC), held at the Finance Division, today.
Adviser to the Prime Minister on Commerce and Investment Mr. Abdul Razak Dawood, Secretary M/o Industries and Production, Secretary Ministry of National Food Security & Research, Provincial Chief Secretaries, Economic Advisor Finance Division, Member PBS, MD Utility Stores Corporation, Chairperson CCP, Chairman TCP, Member customs FBR and other senior officers participated in the meeting.
iser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.06% as compared to previous week which was 0.43%. 33 food items contributed increase of 0.05%, whereas 18 non-food items contributed decrease of 0.11% to the SPI. NPMC was informed that there is decline in SPI for third time since December 31st, 2021.
Prices of 07 items fell which contributed decline in SPI by 0.59%. The items which shown decline included Chicken by 0.27% and other by 0.35%. While prices of 24 items increased that contributed increase in SPI by 0.53% which included Tomatoes by 0.22%, Garlic by 0.01%, Petrol by 0.16% and others by 0.14%. Prices of perishable items like Tomatoes increased due to rain in the country.
NPMC was updated on the prices of wheat flour and was informed that there was stability in the Wheat flour prices in the country. However, the slight variation in the Wheat flour prices was due to the disruption in the supply caused by rain and fog.
The meeting discussed the stock position of Wheat in the country and was informed that sufficient stocks of Wheat are available.
Finance Minister expressed satisfaction on the availability of sufficient stocks of Wheat and further directed Ministry of NFS&R to formulate strategy to optimally maintain the strategic reserves of Wheat in the country to meet any difficult situation in the future.
NPMC also discussed sugar prices in the country and directed Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country and maintain stability in prices.
On the prices of Pulses, NPMC was informed that prices of Moog pulse have shown stability while prices of Gram, Mash and Masoor pulses have registered increase due to less production of these pulses in the world, variations in the exchange rate and increased freight charges.
Finance Minister expressed concerns on the difference in retail and wholesale prices of pulses in the country and directed Ministry of NFS & R to investigate and take appropriate action against the exploiters to maintain stability in the prices of imported pulses.
Prices of edible oil in the country came under discussion in the meeting. NPMC showed concerns on the increase in the prices whereas international market has witnessed dip in the prices of edible oil and directed Ministry of Industries and Production to formulate strategy and explore alternate options for import of edible oil to reduce the prices in the country.
The NPMC was briefed on the availability of essential goods at subsidized rates at the Sastaa & Sahulat Bazaars across the country.
In his concluding remarks, the Finance Minister underscored the efforts being made for keeping the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country.
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