The government plans to crack down on ghee manufacturers for not lowering prices at the local level.
The Prime Minister has instructed the Competition Commission of Pakistan (CPP) to investigate the issue and submit a report by February 3, 2023, due to the significant difference in international prices and the lack of price reduction in the country, reported a national daily.
These instructions were given during a meeting on the agriculture sector’s Strategic Roadmap on January 20, 2023, when the high prices of edible oil and ghee were discussed. The meeting was informed that local prices were not reflecting the reduction in international prices of ghee.
The report stated that oil/ghee prices remain the same in the country despite a significant drop in international markets, therefore, the Competition Commission of Pakistan is to probe the matter and submit to the Prime Minister’s Office (PMO) a report along with a set of recommendations by February 3, 2023.
The Ministry of National Food Security and Research (MNFS&R) will form a “Committee of Experts” including relevant stakeholders to develop a policy framework for the local production of edible oil in Pakistan.
The Ministry of Industries and Production (MoI&P) and the MNFS&R will work together with the chief secretaries to create a report on the availability of urea, diesel, and seeds at the prescribed price.
Additionally, the MNFS&R will collaborate with MoI&P to provide weekly progress reports on the availability of fertilizers, diesel, and seeds. The Ministry of National Food Security and Research will also announce the timelines for implementing the Seed Traceability Action Plan by January 27, 2023.
Source: Business Recorder