Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, held a meeting with the SAPM on Food Security, Mr. Jamshed Cheema, on the price control strategy for essential commodities.
Secretary Finance Division and Economic Advisor Finance Division also participated in the meeting.
While reviewing the value chain of essential commodities, the Finance Minister stressed the need for accurate forecasting to ensure smooth supply of basic items at affordable prices across the country. He emphasized the role of Provincial governments for taking proactive measures on top priority to bring price stability in items of daily use in compliance with the directives of the Prime Minister.
The SAPM on Food Security apprised about the significance of maintaining strategic reserves and strict implementation of administrative measures in order to provide maximum relief to the consumers.
After detailed deliberations, it was decided that SAPM will hold consultations with all relevant stakeholders, including Provincial Chief Secretaries, and chalk out a comprehensive plan to examine the entire food chain of fifteen basic commodities from farm to retail market and identify gaps that need to be filled through accurate forecasting and proactive decision making to ensure availability of essential items at fair prices.
Similarly, there will be a renewed focus on an effective communication strategy to keep the general public well informed about the measures being taken to ensure price stability and smooth supply of essential items throughout the country. It was also decided that the key focus will be on the provision of targeted subsidies for meaningful market intervention.
In his concluding remarks, the Finance Minister stated that a multi-faceted price stability strategy will be implemented to facilitate farmers by offering price guarantees and confirmed take-off to protect them from exploitation at the hands of middlemen/wholesalers.
Investment through public-private partnerships will be invited to develop multipurpose storage facilities for maintaining strategic reserves.