ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has directed the provincial authorities to take appropriate measures to control sugar price in the local markets.
Presiding over the meeting of the National Price Monitoring Committee (NPMC), the finance minister expressed concerns over the rise in commodity prices.
During the meeting, the economic adviser briefed the meeting about the weekly Sensitive Price Indicator (SPI), which increased 0.40 per cent, compared with 0.55 per cent during the previous week.
The prices of five items registered a decline, contributing 0.12 per cent decline in the SPI, as the price of potatoes went down 0.04 per cent; chilies powder, 0.03 per cent; onions, 0.02 per cent; wheat flour, 0.03 per cent; and gur 0.0004 per cent.
The committee was informed that the prices of 23 items remained stable, whereas 23 items registered growth, including ladies sandals, which recorded a growth of 0.12 per cent; tomatoes, 0.03 per cent; liquefied petroleum gas (LPG), 0.16 per cent; eggs, 0.07 per cent; and other items witnessed an increase of 0.14 per cent.
It was also said that the fluctuations in the petroleum prices have affected the LPG price and the rise in the ladies sandals was due to the annual increase in the prices by the manufacturing companies.
The committee expressed satisfaction over the availability of sufficient wheat stocks in the country at reasonable rates, which recorded a further decline during the week.
The adviser briefed the committee on the wheat sowing situation, saying that the wheat sowing was satisfactory in Sindh and Punjab, whereas wheat sowing in Balochistan and Khyber-Pakhtunkhwa (KP) was affected due to the drought situation, but the sowing has been started again and the targets will be completed.
The adviser also informed the meeting that the prices of sugar have shown slight increase in Rawalpindi, Karachi and Peshawar, and the arrival of new sugar stocks in the market will ease out its prices.
The secretary national food security and research (NFS&R) apprised the meeting regarding the hike in chicken and eggs prices, saying that the increase is due to seasonal factors.
While discussing the prices of milk, as it was stated that prices of milk are normal across the country.
The finance minister directed the ministry of NFS&R to work out a sustainable plan for optimal milk prices in order to ensure its smooth and sustainable supply in the market.
The meeting was briefed on the availability of essential goods at subsidised rates at the Sastaa and Sahulat Bazaars across the country.
Tarin commended the efforts of the governments of the Punjab, KP and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars and also expressed satisfaction on the availability of essential items at low rates in Sastaa Bazaars in Sindh and Balochistan.
The finance minister underscored the efforts being made for keeping the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country.
Federal Minister for National Food Security and Research, Syed Fakhar Imam; Minister of State for Information and Broadcasting, Farrukh Habib; secretaries NFS&R and ministry of industries and production; economic advisor finance division, provincial chief secretaries; chief statistician Pakistan Bureau of Statistics, managing director utility stores corporation, deputy commissioner Islamabad Capital Territory and other senior officers participated in the meeting.
