ISLAMABAD: Minister for Finance and Revenue, Dr Abdul Hafeez Sheikh has directed the Pakistan Bureau of Statistics (PBS) to hold a meeting with the provincial governments to remove price disparity in essential items. He urged the provinces to take maximum benefit from the newly-developed system of ‘live dashboard’ of the prices of essential items for comparative analysis.
A meeting of the National Price Monitoring Committee (NPMC) presided over by Dr Shaikh met to review the price trend of essential commodities especially wheat, sugar, eggs, and edible oil.
Minister for Industries and Production Hammad Azhar informed the NPMC that production of sugar was likely to increase this year due to improved sugarcane crushing activity and would eventually release pressure on upward price trend.
He also apprised the meeting about the steps being taken to control the prices of edible oil/ghee.
The secretary finance briefed the NPMC that prices of wheat and eggs had registered a downward trend due to coordinated and consolidated efforts of the provincial governments.
The finance minister directed the provincial governments and the relevant departments to continue momentum of strict price monitoring for provision of basic items at affordable prices across the country.
Federal Minister for NFS&R briefed the NPMC about the current status of wheat stock across the country, and assured that all possible measures would be taken to ensure uninterrupted supply of wheat at affordable prices.
The representative from the Punjab government briefed that strict action had been taken against the role of middlemen in sugarcane market as directed by the NPMC.
He informed that prices of sugar were currently stable in the province, however, in some areas marginal hike was observed due to fog and weather conditions.
Minister for Industries and Production appreciated the efforts of the Punjab Government in minimising the role of middlemen.
The Member PBS presented before the NPMC, a live dashboard of prices of essential items for comparative analysis and stated it would be helpful in monitoring prices of essential items across major cities and markets in real time.
The system is prepared by the PBS to monitor food prices and figure out price fluctuations for timely decision making and smooth coordination among provincial governments and departments concerned.
The finance minister appreciated the mechanism for effective price monitoring and sound decision making.
Minister for Industries and Production, Minister for National Food Security and Research, Special Assistant to the Prime Minister on Revenue, Provincial Chief Secretaries, Secretary Ministry of NFS&R, Secretary Industries and Production, Chairman FBR, Member CCP, Chairman TCP, MD PASSCO, MD USC, Member IT and Member National Accounts from the PBS, and senior officers of the Finance Division participated in the meeting.
Copyright Business Recorder, 2021
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