
Image: File
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has expressed concerns on the difference in the retail and wholesale prices of pulses in the country.
Tarin, while presiding over the meeting of the National Price Monitoring Committee (NPMC), on Wednesday directed the Ministry of NFS&R to investigate and take appropriate action against the exploiters to maintain stability in the prices of imported pulses.
The Finance Division economic adviser briefed the NPMC about the weekly SPI which witnessed a decline of 0.06 per cent, as compared to the previous week in which it was 0.43 per cent.
A total of 33 food items contributed an increase of 0.05 per cent, whereas 18 non-food items contributed a decline of 0.11 per cent to the SPI. The NPMC was informed that there is decline in SPI for the third time since December 31, 2021.
The prices of 7 items fell contributing a decline of 0.59 per cent in the SPI. The items which showed decline, included chicken with a decline 0.27 per cent and other 0.35 per cent.
While the prices of 24 items increased which contributed 0.53 per cent increase in the SPI, the items included tomatoes 0.22 per cent, garlic 0.01 per cent, petrol 0.16 per cent and others by 0.14 per cent, noting that the prices of perishable items like tomatoes increased due to rain in the country.
The meeting was updated on the prices of wheat flour, informing it that there was stability in the wheat flour prices in the country. However, the slight variation in the wheat flour prices was due to supply disruption caused by rain and fog.
The committee discussed the stock position of wheat in the country and was informed that sufficient stocks of wheat are available in the country at present.
Tarin expressed his satisfaction on the availability of sufficient stocks of wheat and further directed the Ministry of National Food Security and Research (NFS&R) to formulate a strategy to optimally maintain the strategic reserves of wheat in the country to meet any difficult situation in the future.
The NPMC also discussed the sugar prices in the country and directed the Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country and maintain stability in prices.
It was informed during the meeting that the prices of moog pulse have shown stability while the prices of gram, mash and masoor have registered an increase, due to less production of these pulses in the world, variations in the exchange rate and increased freight charges.
The prices of edible oil in the country came under discussion during the meeting, where the Committee showed concerns on the increased prices despite the international market witnessing a dip in the prices of edible oil.
The NMPC directed the Ministry of Industries and Production to formulate a strategy and explore alternate options for import of edible oil to reduce the prices in the country.
The NPMC was also briefed on the availability of essential goods at subsidised rates at the Sastaa and 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 taken to ensure the smooth supply of essential commodities throughout the country.
Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood, secretaries of M/o Industries and Production and Ministry of National Food Security & Research, Provincial chief secretaries, Finance Division economic adviser, the Pakistan Bureau of Statistics (PBS) member attended the meeting.
Utility Stores Corporation managing director, Competition Commission of Pakistan (CCP) chairperson, Trading Corporation of Pakistan (TCP) chairman, Federal Board of Revenue (FBR) member customs and other senior officers also participated in the meeting.
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