Hafeez Sheikh directs provinces to monitor prices of essential commodities

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

NPMC reviewed the price trend of essential commodities especially wheat flour, eggs, chicken, sugar and edible oil during the week.

Secretary finance briefed the committee about weekly SPI that recorded a slight increase of 0.81%, whereas prices of 06 items decreased and 21 items remained stable during the last week.

He expressed satisfaction over the average per day releases by the provinces which were stable throughout the country.

Ministry of Industries and Production briefed the committee that approx. 80per cent crushing of sugarcane has been completed during the current season.

The ministry further requested the respective provincial governments to provide projections regarding the future sugar requirement for effective planning during the year.

Minister for Industries and Production Hammad Azhar lauded the Utility Stores Corporations (USCs) for covering more than 5pc of the consumer demand for essential items at subsidized rates across the country.

During the meeting, Finance Minister Hafeez Sheikh urged the provincial governments and departments concerned to take all necessary administrative measures to ensure an uninterrupted supply of regulated wheat flour throughout the country.

He further directed the provincial and district administrations to proactively monitor the prices of essential commodities to avoid hoarding and black marketing effectively.

The meeting was attended by Federal Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Razak Dawood, SAPM on Revenue Dr. Waqar Masood, Secretary M/o National Food Security and Research, Secretary M/o Industries and Production, Chairman FBR, Member CCP, Member PBS, MD PASSCO, MD USC, Chairman TCP and senior officials of the finance division.