Published On: Thu, Nov 25th, 2021
Published in Category: Islamabad

NPMC reviews prices of basic commodities

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Islamabad : Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin on Wednesday presided over the National Price Monitoring Committee (NPMC) meeting to review prices of basic commodities.

According to details, Secretaries of finance, Industries and productions, MD Utility Stores Corporation and other officials attended the meeting.

Secretary Finance briefed NPMC about the weekly SPI situation which has been increased by 1.07% during the week under review. While reviewing the price trend of essential commodities, Secretary Finance apprised that prices of 10 essential commodities registered decline prices of 14 items remained stable during the last week. The prices of essential commodities Onion, Potatoes, Cooking Oil registered significant decline as compared to same period last year, he added.

Secretary Finance further updated NPMC that the prices of the wheat flour bags remained consistent at Rs. 1100 per 20 kg due to the proactive measures of the Punjab, KP Governments and ICT administration. The daily release of wheat by all the provincial governments will further ease out prices.

Advisor to PM on Finance and Revenue expressed satisfaction over the stability in the sugar prices and stressed Ministry of Industries and Production to take appropriate measures for creating strategic reserves of the sugar in the country for smooth supply of sugar in coming months.

Reviewing the prices of edible oil, NMPC observed that the increase in prices of edible oil in the global market has affected the local prices; however, it was informed that international prices of palm oil/soyabean would start declining from January onward. The Adviser stressed to ensure that the lower international prices be passed on to the domestic consumers.

Shaukat Tarin directed the provincial governments to take punitive actions against Fertilizer’s hoarders, prevent shortage and make availability of fertilizers at controlled rates in all the provinces.

The Adviser further directed Ministry of Industry and Production to initiate whistle blower law against hoarders and enforce it at the priority.

While observing stock position of Kerosene oil in the country, Tarin directed Petroleum Division to take measures for availability of sufficient stocks of Kerosene oil in market to support the lower segment of the society.