The National Price Monitoring Committee (NPMC) Monday observed a hike in the price of milk in Sindh and directed the provincial authorities to take appropriate measures to ensure stability in the price of milk.
Economic Adviser, Finance Division, briefed the National Price Monitoring Committee (NPMC) on the weekly SPI. Federal Minister for Finance and Revenue, Shaukat Tarin chaired the meeting.
The weekly sensitive price indicator (SPI) inflation has witnessed a decline of 0.08 percent as compared to an increase of 1.35 percent in the previous week. Thirty-three food items contributed to the decrease by 0.07 percent, whereas 18 non-food items contributed 0.01 percent decrease in SPI.
The NPMC meeting was informed that prices of 21 items remained stable in the last week, whereas prices of 14 items decreased, contributing to the SPI decline by 0.43 percent. The items which showed a decline in prices included tomatoes by 0.24 percent, potatoes by 0.04 percent, onions by 0.04 percent, and others by 0.11 percent. The prices of 16 items increased and contributed an increase in SPI by 0.35 percent. These items included garlic, by 0.04 percent, chicken, by 0.20 percent, banana, by 0.03 percent, and other items, by 0.08 percent.
NPMC was informed that there was, during the last week, a ‘healthy’ decline in prices of daily commodities, including pulses, tomatoes, chilli powder, potatoes, onions, eggs, sugar, gur (jaggery), and wheat flour bag. The meeting was apprised that prices of eggs had witnessed a decline for the last five weeks consecutively.
The committee was briefed on the prices of wheat flour and was informed that there was a decline in the wheat flour prices in the country, as sufficient stocks were available. The Secretary Ministry of National Food Security & Research (NFS&R) gave a presentation on the existing available stocks and eventual demand for wheat.
The chair directed the Ministry of NFS&R to devise a plan for future requirements of wheat, considering the actual data on production and consumption of wheat in the country.
NPMC also discussed sugar prices in the country and was apprised that a slight decrease in sugar prices had been witnessed in the last week. The chair directed the Ministry of Industries and Production to expedite the process of building strategic reserves of sugar in the country to maintain stability in prices in the future.
The committee expressed satisfaction over the availability of essential goods at subsidized rates at the Sastaa & Sahulat Bazaars across the country.
It was told that as compared to the regional countries, including India, Bangladesh and Sri Lanka, the prices of daily commodities in Pakistan were lower.
In his closing remarks, the Finance Minister said the government was putting efforts to keep a check on the prices of essential items, adding that it was also taking measures to ensure a smooth supply of essential commodities throughout the country.
Federal Minister for Food Security & Research, Syed Fakhar Imam; Minister of State for Information and Broadcasting, Farrukh Habib, Secretary Ministry of Industries and Production, Secretary Ministry of National Food Security & Research, Provincial Chief Secretaries, Member Pakistan Bureau of Statistics, Managing Director Utility Stores Corporation, Chairperson Competition Commission of Pakistan, Chairman Trading Corporation of Pakistan, Member Customs Federal Board of Revenue, Additional Deputy Commissioner ICT, and other senior officers attended th
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
