Manend Team 
ISLAMABAD, (MANEND NEWS): Federal Minister for Finance and
Revenue, Dr. Abdul Hafeez Shaikh has reiterated the firm commitment
of the Government to ensure provision of essential commodities at
affordable prices across the board.
Dr. Abdul Hafeez Shaikh, chaired a weekly meeting of the National
Price Monitoring Committee (NPMC) on Tuesday. Federal Minister for
National Food Security and Research Syed Fakhar Imam, SAPM on
Revenue Dr. Waqar Masood Khan, Provincial Chief Secretaries,
Secretary M/o Industries and Production, Secretary M/o National Food
Security and Research, Additional Secretary M/o Planning,
Development & Special Initiatives, Chairman FBR, Member CCP,
Member PBS, MD USC, MD PASSCO, Member National Accounts PBS
and senior officers of the Finance Division participated in the meeting.
The National Price Monitoring Committee (NPMC) reviewed the price
trend of essential commodities especially wheat flour, eggs, chicken,
sugar and edible oil during the last week.
Finance Secretary outlined the significant decline in year-on-year CPI
to 5.7% in January 2021 as compared to 14.6% in January last year.
The NPMC lauded the efforts of the concerned Ministries / Departments
and Provincial governments for vigilant monitoring of the prices of
essential commodities and urged to continue the momentum to
provide maximum relief to the general public.
The Secretary, M/o NFS&R updated NPMC about the current status of
wheat stocks. The wheat stock position is sufficient for the domestic
consumption and average per day release by the Provinces is also
stable. The NPMC directed the Provincial governments to keep close
watch on the prices of wheat and sugar in the market to avoid
hoarding, black marketing and smuggling to ensure uninterrupted
supply at affordable prices.
The Secretary, Ministry of Industries and Production updated NPMC
about the fluctuation in international prices of Palm and Soyabean oils
which in turn, drives the prices of edible oil in the domestic market.
The Ministry is closely monitoring the situation to minimize its impact
on domestic prices, he stated. The Secretary further apprised NPMC
that arrangements are underway to import sugar which will ensure its
smooth supply in the domestic market. There would be increased
production of sugar during the current crushing season as per latest
estimates, he added.
The Finance Minister directed M/o Industries and Production to
continuously monitor stocks of sugar, its supply position and prices in
the market.
