ISLAMABAD: Federal Finance Minister Ishaq Dar, taking notice of hike in prices of kitchen items, has directed the authorities concerned to monitor the increasing trend in prices of perishable and non-perishable kitchen items in the holy month of Ramazan.
The minister directed the Ministry of Food Security and Research as well as Utilities Store Corporation to immediately submit their findings to the Economic Coordination Committee of the cabinet.
Dar gave these directives while presiding over a meeting of the National Price Monitoring Committee. The meeting was informed that for the last five weeks the Sensitive Price Index (SPI), which monitors price trend of kitchen items, is surging.
He directed the Competition Commission of Pakistan (CCP) to identify gaps in the existing legal/policy framework relating to price and supply of essential commodities and keep a close watch on the undertakings in the informal food sector for market manipulation and submit concrete recommendations after full review based on substantial analysis.
The SPI for the week ended on June 18 recorded 0.25 per cent increase. Out of 53, prices of 18 items registered increase while prices of 10 decreased and prices of 25 items remained stable as compared to last week ended on June 11.
