Hafeez Sheikh directs provinces to ensure provision of basic items at affordable prices

ISLAMABAD: Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Sheikh on Monday chaired the meeting of the National Price Monitoring Committee (NPMC) here in Islamabad, ARY News reported.

The National Price Monitoring Committee reviewed the price trend of essential commodities especially wheat, sugar and edible oil during the week.

Finance Secretary briefed the meeting that weekly SPI registered a decline of 0.22per cent and the main drivers behind the decrease in SPI are falling prices of eggs, tomatoes, potatoes, onions and chicken.

Prices of 21 basic items remained stable whereas 07 items registered a decline during the week, the meeting was briefed.

Federal Minister for National Food Security and Research Syed Fakhar Imam assured all possible measures would be taken to ensure smooth supply of wheat across the country.

The finance minister directed the provincial governments to follow a self-sustaining model and streamline the daily release of wheat to ensure a steady supply in the provinces as well as districts.

Federal Minister for Industries and Production Hammad Azhar updated NPMC about the recent decline in international prices of palm oil which will eventually reduce the upward pressure on the prices of edible oil in the domestic market.

Abdul Hafeez Sheikh directed Ministry of Industries and Production to continuously monitor stocks of sugar, its supply position in the market and prices throughout the country for the consumers.

He further directed authorities to chalk out a comprehensive strategy to ensure a smooth supply of wheat flour at reasonable rates for the general public. The minister also urged the provincial governments to continue taking necessary steps to ensure the provision of basic items at affordable prices across the country.

The meeting was attended by Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Abdul Razak Dawood, SAPM on Revenue Dr. Waqar Masood, Provincial Chief Secretaries, Secretary M/o Industries and Production, Additional Secretary M/o NFS&R, Additional Secretary Ministry of Planning, Development and Special Initiatives, Chairman FBR, Member CCP, Chairman TCP, MD USC, Member IT/HRM & Member National Accounts from PBS and senior officers of the Finance Division.