NPMC reviews prices of essential commodities
The National Price Monitoring Committee (NPMC) reviewed the prices of essential commodities on Thursday and expressed satisfaction over stabilization of prices of essential items. The Committee directed the relevant stakeholders to keep vigilant eye on food prices to provide relief to the common man.
The meeting was Chaired by the Minister for Planning Development & Special Initiatives, Muhammad Sami Saeed, attended by the Secretary Planning Ministry, Awais Manzur Sumra, Chief Statistician from the Pakistan Bureau of Statistics (PBS), Chief Economist of Pakistan, representatives from all provinces, the Federal Board of Revenue (FBR), Ministry of Food Security & Industries, and other relevant stakeholders were also present in the meeting.
During the meeting, PBS officials presented a detailed briefing while sharing price and inflation data, while representatives from Punjab, KP, Sindh, and Balochistan apprised the forum on the current production and supply of wheat, sugar and other essential commodities which according to them remained satisfactory.
The Minister emphasized zero tolerance against hoarders and profiteers, directing the Provincial governments to engage their respective Commissioners, Deputy Commissioners and Magistrates to check malpractices including hoarding.
During the meeting, PBS informed the meeting about its Decision Support Initiative in the shape of online monitoring mechanism across the country. The meeting also highlighted the importance of minimizing the price differential between wholesale and retail prices of essential items. The relevant stakeholders were directed to minimize this difference to maximize relief for the common man.
The meeting also expressed satisfaction over fall of CPI inflation by 450 basis points and the efforts of the government are paying dividend for the masses. The Planning Minister also emphasized stakeholders to take corrective measures to keep inflation under check.
Editor: Raja Kamran