Ishaq Dar warns of strict action against overpricing of food items

ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Wednesday warned that the government would take strict action against any malpractices of hoarding, artificial shortage of food items and overpricing.

The deputy prime minister was chairing a high-level meeting to review the supply and availability of essential food commodities especially sugar.

He directed the authorities concerned to fully implement the government’s policy of supply of essential food items to common men at affordable prices.

The meeting was attended by the Minister for National Food Security Rana Tanveer Hussain, SAPM Tariq Bajwa, Secretary Industries and Production, Member of Federal Board of Revenue, DG Federal Investigation Agency and representatives from Pakistan Sugar Mills Association and provincial government departments.

Read More: Pakistan’s weekly inflation drops by 0.11 percent

Earlier, Pakistan’s weekly inflation, measured by the Sensitive Price Indicator (SPI), decreased by 0.11 percent for the combined consumption groups during the week ended on June 12, Pakistan Bureau of Statistics (PBS) reported on Friday.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 309.51 points as compared to 309.85 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed a decrease of 1.41 per cent.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

The SPI for the lowest consumption group of up to Rs 17,732 witnessed an increase of 0.15 per cent and went up to 299.44 points from last week’s 298.99 points while consumption group of Rs 17,732 to 22,888 also increased by 0.04.