Prime Minister Chairs Meeting To Review Prices Of Essential Commodities

Aizbah KhanWeb Editor

20th Jul, 2021. 12:39 pm
Prime Minister Chairs Meeting To Review Prices Of Essential Commodities

The government has decided to bring back the implementation of the sales tax on Monday, November 30, 2021, to ensure a reasonable reduction in the price of sugar.

A press release issued by the Prime Minister’s Office Media Wing said that the decision was taken during a meeting chaired by Prime Minister Imran Khan to review the prices of essential commodities.

The meeting was attended by Finance Minister Shaukat Tarin, Industries and Production Minister Khusro Bakhtiar, Advisor to the Prime Minister on Accountability Mirza Shehzad Akbar, Special Assistant to the Prime Minister on Social Security Dr Sania Nishtar and senior officials. Chief Secretaries of Punjab and Khyber Pakhtunkhwa attended the meeting through video link. It was also decided at the meeting that the Ministry of Industry and the Ministry of Finance would assess the future needs of sugar and assess the need.

The Prime Minister directed the Chief Secretaries to ensure proper pricing of essential commodities and application of these prices in all cases. It was decided at the meeting that action would be taken against the negligent officers in ensuring the implementation of the fixed prices.

It was decided to set up a system for setting reasonable prices for edible oil.

The Prime Minister directed that the law on data sharing of essential commodities be finalized as soon as possible.

It is pertinent to mention here that according to data released by the Pakistan Bureau of Statistics, the share of food items in the gross import bill this year has reached 14.79 per cent, up from 12.17 per cent last year and shows the country’s growing dependence on imports to ensure food security.

The increase in the import bill is due to the import of sugar, wheat, palm oil and pulses to meet the shortfall in local agricultural production.

This increase in the import bill has also widened the trade deficit, which could cause some difficulties for the government externally.

In the FY 22-2021 budget, the government proposed a number of measures, including increasing production per acre, reducing wastage of produce and allocating billions of rupees to set up large food storage stores.

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