ISLAMABAD: The Ministry of Industries and Production said to have proposed to the National Price Monitoring Committee (NPMC) that some relief in taxes on poultry feed be given with the objective to bring down the soaring prices of chicken in the country as the meeting asked provinces to monitor the price of chicken, and ensure a smooth supply to minimise the demand supply gap.
A meeting of the NPMC was presided over by Adviser to the Prime Minister on Finance and Revenue to discuss the prices and supply position of essential food items, and has expressed concern over rise in chicken prices in the country.
A participant on condition of anonymity said that the meeting did not out rightly rule out possibility of relief in taxes.
The meeting was also informed that there is a downward trend in the prices of perishable items as well as wheat and sugar following improvement in supply position, pricing mechanism and decline in profit margin between the prices of wholesale and retail consumers is also coming down.
The adviser held discussion with the provincial chief secretaries on wheat stock position in the provinces.
Provinces informed him that at present sufficient quantities are available to meet existing demand.
The adviser directed the Ministry of Food Security to conduct an emergency meeting with the TCP, Maritimes, the KPT, and other stakeholders to review the implementation of the schedule regarding offloading of wheat vessels as decided by the logistic committee.
The Ministry of Industries and Production was directed to take necessary measures to control rising prices of edible oil.
The finance secretary, while presenting the price trend of essential commodities informed that according to the latest SPI released by the PBS, there is decline in the prices of 13 essential commodities, for instance, wheat flour, sugar, onions, tomatoes, and potatoes, while the prices of 17 commodities have increased slightly.
Price of 21 items has remained stable.
The committee was also informed that profit margin between the prices of wholesale and retail consumers is also coming down.
The meeting was attended by Minister Industries and Production, Special Assistant to the Prime Minister on Revenue, Provincial Chief Secretaries, Secretary NFS&R, Secretary Industries and Production, Chairman Federal Board of Revenue (FBR), Chairperson CCP, Executive Director Commerce, Chairman TCP, Manager Coordination Utility Stores Corporation (USC), Member PBS, Deputy Commissioner ICT Administration, and senior officers of the Finance Division.
Copyright Business Recorder, 2020