Tarin satisfied over sugar price stability in market

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has expressed satisfaction over the stability in the sugar price in the market.

Presiding over the National Price Monitoring Committee (NPMC) meeting, which reviewed the prices of daily commodities and essential food items in the country, Tarin commended the efforts of the governments of Punjab, Khyber-Pakhtunkhwa and Islamabad administration and advised all the provincial governments to ensure that all released wheat is being converted into flour and available in the market at government price.

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The finance secretary briefed the meeting about the weekly Sensitive Price Indicator (SPI) situation, which registered a decrease of 0.67 per cent during the week under review, a statement said.

Reviewing the price trend of essential commodities, the finance secretary apprised the prices of eight essential commodities registered a decline, whereas prices of 23 items remained stable during the last week.

He also apprised the meeting that the prices of essential commodities; tomatoes, onion, potatoes, chicken and sugar registered a significant fall during the week, compared with the same period of the last year.

He also updated the meeting that the prices of wheat flour bags remained unchanged at Rs1,100/20kg due to the proactive measures of Punjab, Khyber-Pakhtunkhwa governments and ICT administration. The daily release of wheat by all the provincial governments will further ease out the prices at the national level, he added.

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Punjab chief secretary apprised that sufficient wheat stocks are available and released accordingly.

Reviewing the price of sugar in the country, the finance secretary said the prices are decreasing in the country due to proactive measures of the government. The new sugar stocks are arriving in the market, which will further lower the prices.

Reviewing the prices of edible oil, the NMPC observed that the increase in prices of edible oil in the global market has affected the local prices.

The adviser directed the Ministry of Industries and Production to take measures to control the prices of edible oil and adjust the rates according to the prices in the international market, especially when the international prices are declining.

He also advised to make efforts for availability of strategic reserves of edible oil.

Reviewing the production of pulses in the country, the meeting was informed that moong pulse production has increased, compared with the last year.

Tarin advised to increase the production of pulses in the country and; thereby, reduce the burden on imports.

On the stock position of fertilisers, it was informed that the prices have started declining due to effective administrative measures.

The NPMC observed that Saasta and Sahulat Bazaars in Punjab and KP are offering essential goods at subsidised rates.

Tarin commended the efforts of the governments of Punjab, KP and Islamabad administration in providing key items at discounted prices through arranging Saasta Bazaars.

The adviser also expressed satisfaction on the prices of commodities in Sastaa Bazaars in Punjab, KP, Balochistan and ICT and also directed to establish such bazaars in more cities to provide maximum relief to the people.

Tarin said that the government is taking all possible measures to ensure smooth supply of essential commodities throughout the country.

Federal Minister for National Food Security and Research Syed Fakhar Imam, Minister of State for Information and Broadcasting Farrukh Habib, Industries and Production, NFS&R secretaries, additional secretary commerce, TCP chairman, Utility Stores Corporation managing director, Commissioner ICT, provincial chief secretaries, PBS chief statistician and other senior officers participated in the meeting.