Tarin Orders to Control Prices of Edible Oil

Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin, on Wednesday, directed the Ministry of Industries and Production to take measures to control the prices of edible oil.

He was presiding over the National Price Monitoring Committee (NPMC) meeting to review the prices of daily commodities and essential food items in the country.

The finance secretary briefed the NPMC about the weekly SPI situation which has decreased by 0.67% during the week under review. While reviewing the price trends of essential commodities, the Secretary of Finance apprised that prices of eight essential commodities registered a decline whereas prices of 23 items remained stable during the last week.

The finance secretary further updated NPMC that the price of wheat flour bags remained consistent at Rs. 1,100 per 20 kg due to the proactive measures of Punjab, and Khyber Pakhtunkhwa governments and ICT administration. The daily release of wheat by all the provincial governments will further ease out wheat prices at the national level.

Chief Secretary Punjab apprised that sufficient stocks of wheat are available and are released accordingly.

The adviser commended the efforts of the government of the Punjab, KP, and Islamabad administration and asked all provincial governments to ensure that all the released wheat is being converted into flour and is available in the market at government price.

While reviewing the price of sugar in the country, the finance secretary informed that prices are decreasing in the country due to proactive measures of the government. The new stocks of sugar are arriving in the market which will further lower the prices, he added.

The adviser expressed satisfaction over the stability in the sugar prices in the market.

While reviewing the prices of edible oil, the NMPC observed that the increase in prices of edible oil in the global market has affected the local prices.

The adviser directed the Ministry of Industries and Production to adjust the oil rates according to the prices in the international market especially when international prices are declining. He further advised making efforts for the availability of strategic reserves of edible oil.

The NPMC observed that Sastaa & Sahulat Bazaars in Punjab and KP are offering essential goods at subsidized prices. The adviser commended the efforts of the government of the Punjab, KP, and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars. The adviser directed to establish such bazaars in more cities to provide maximum relief to the people.

In his concluding remarks, the adviser stated that the government is taking all possible measures to ensure a smooth supply of essential commodities throughout the country.

Federal Minister for National Food Security & Research, Syed Fakhar Imam, Minister of State for Information & Broadcasting, Farrukh Habib, Secretary Finance, Secretary Industries & Production, Secretary National Food Security & Research, Additional Secretary Commerce, Chairman Trading Corporation of Pakistan (TCP), MD Utility Stores Corporation, Commissioner ICT, Provincial Chief Secretaries, Chief Statistician Pakistan Bureau of Statistics and other senior officers participated in the meeting.