ISLAMABAD: Federal Minister for Planning Ahsan Iqbal directed that the price difference between wholesale and retail prices should be kept at an appropriate level, and an effective strategy should be implemented to prevent hoarding.
The minister, Friday, chaired a meeting to review the existing federal and provincial price control mechanism and to monitor the essential commodity prices during the upcoming Ramadan and Eid festivals.
The meeting was organised by Chief Money Price and Fiscal Policy Dr Hassan Mohsin, while it was attended by Secretary Planning, Awais Manzoor Sumra, Dr Naeemul Zafar Chief Statistician PBS, along his team, Joint Chief Economist, representatives of the Ministry of National Food, Policy and Research, Ministry of Industry and Production, Utility stores corporation, chief secretaries, additional chief secretaries and their teams.
Prices of essential items increase ahead of Ramazan
During the meeting, representatives from provincial governments provided detailed briefings on the arrangements being made at the provincial level.
In the meeting, it was discussed that all provinces provided updates on their arrangements for Ramadan.
The Punjab government announced the “Nigahban Ramzan Package,” worth 30 billion rupees, which would establish 52 utility markets where 16 essential commodities would be available at discounted rates. Overall 67 model bazaars are being set up, and district committees are holding regular meetings to monitor prices of essential items.
Khyber Pakhtunkhwa has activated price control teams, while Balochistan mobilised market committees to control price hikes.
Minister Iqbal emphasised the need for special attention to both Ramadan and Eid to ensure no disruption in supply or delays. He directed that the price difference between wholesale and retail prices should be eliminated, and an effective strategy should be implemented to prevent hoarding.
The minister instructed all provinces and the Pakistan Bureau of Statistics to closely monitor market trends on a daily basis, or biweekly ensuring that the public receives maximum relief. He emphasised the need for special attention to both Ramadan and Eid to ensure no disruption in supply or delays.
Prof Ahsan emphasised the need for a coordinated and effective strategy to control the prices of essential goods during Ramadan and Eid. He further stated that while an increase in demand for goods during religious festivals like Ramadan and Eid was expected, unjustified price hikes every year were unacceptable. He directed that supply and demand should be managed proactively and efficiently during these periods.
The Ministry of Food briefed the meeting on Ramadan-related arrangements, mentioning that the supply and price situation of essential items during Ramadan was expected to remain stable. The meeting was informed that the potato harvest in Punjab had been bumper, leading to a significant drop in prices in recent weeks. The prices of onions and tomatoes were also stable, and sugar supply was normal. The Ministry of Industry is taking additional steps in this regard.
The meeting also noted the impact of global price increases on cooking oil, but there were no issues with its availability. Demand for pulses, chicken, and dates typically increases during Ramadan, but arrangements for their supply have been completed. The harvest of dates and bananas has been particularly good, ensuring these items will be abundantly available during Ramadan.
Dr Naeemul Zafar, chief statistician of the Pakistan Bureau of Statistics, informed the meeting that the bureau was providing comprehensive data on prices and inflation through decision support system, enabling them to make informed decisions. He highlighted that the reduction in inflation was not just reflected in percentage terms but had also resulted in a noticeable decrease in actual prices level.
According to the Bureau’s report, the price of a 20-kilogramme flour bag had significantly decreased from 2,812 rupees in January 2023 to 1,736 rupees in January 2024 vice versa.
Copyright Business Recorder, 2025
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