ISLAMABAD: Federal Minister for Finance and Revenue, Dr Abdul Hafeez Shaikh, chaired the weekly meeting of the National Price Monitoring Committee (NPMC) held at the Finance Division on Monday.

NPMC reviewed the price trend of essential commodities, especially wheat flour, sugar, tomatoes, vegetable ghee, chicken and eggs, during the last week. The weekly SPI recorded a decrease of 0.57%, wherein prices of 07 essential items registered a decline, and 18 commodities remained stable.

The overall release position of wheat was reviewed during the meeting. The Committee directed Secretary NFS&R to hold a meeting with Chief Ministers of all provinces to keep a check on the prices of wheat flour to avoid any artificial price hike. The Finance Minister directed to ensure the smooth supply of wheat at affordable prices across the country. 

Ministry of Industries and Production updated the Committee that the sugarcane crushing season has ended. The overall production is higher as compared to the last year. The Finance Minister directed Provincial governments and other stakeholders to provide estimates regarding additional demand for sugar to the Ministry of Industries & Production for effective planning during the current year. 

Minister for Industries and Production Hammad Azhar apprised that the Ministry is already working on various measures to provide ghee/oil at a reasonable price. Moreover, the Utility Stores Corporation would ensure the availability of ghee at a subsidised price under the “Ramadan Relief Package” through its chain of outlets during the holy month.

The Finance Minister appreciated the provision of basic items by the Utility Stores Corporation at subsidised rates and directed MD USCs to ensure essential items at respective outlets across the country.

The Finance Minister reiterated the Government’s commitment to providing maximum relief to the general public through the provision of basic commodities at fair prices, he concluded.

Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Hammad Azhar, SAPM on Revenue Dr Waqar Masood, Provincial Chief Secretaries, Secretary M/o Industries and Production, Additional Secretary M/o NFS&R, Member CCP, MD PASSCO, Member PBS, MD Utility Stores Corporation and senior officials of the Finance Division participated in the meeting.


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