NPMC directs province, ICT to take proactive measures for price control

Special Secretary Finance Mr. Mohsin Mushtaq Chandna chairing meeting of the National Price Monitoring Committee (NPMC) to discuss the price trend of essential food items in Islamabad on September 07, 2020.

ISLAMABAD, Sep 07 (APP): The National Price Monitoring Committee (NPMC) here Monday directed all provincial governments and Islamabad Capital Territory (ICT) administration to take proactive measures to control the undue price hike of essential items.

The NPMC meeting was held under the Chairmanship of Special Finance Secretary, Mohsin Mushtaq Chandna to discuss the price trend of essential food items, according to press statement issued by the Finance Ministry.

Among others, the meeting was attended by representatives from the provincial governments, ICT, Ministries of Industries, Commerce, Law and Justice, Planning, Development & Special Initiatives, National Food Security & Research, Inter Provincial Coordination (IPC) along with Competition Commission of Pakistan and Pakistan Bureau of Statistics.

It was decided that provincial governments should provide information regarding the flood damages of minor and major crops to Ministry of National Food Security & Research (MNFS&R) for timely response to any shortages.

Ministries of Industries & Production and Commerce were directed to take prompt actions and provide necessary support to facilitate the import of essential food items.

The MNFS&R was directed to keep an eye on the supply and demand of pulses and vegetables including tomatoes, potatoes and onion and take necessary measure such as timely import for the smooth availability of these items.

It was also noted that profit margin between wholesale and retail is huge in items like apples, bananas, gram pulse, mash pulse, masoor pulse, garlic, tomatoes, onions.
Mohsin Mushtaq urged that provincial governments and ICT to take corrective measures to check undue profit margin.

He appreciated the PBS regarding sharing the provincial profit margin to provinces, ICT and also directed to share the detail of provincial markets to them in order to take strict action against profiteers.

The IPC was also directed to coordinate in this matter so that consumers of each province may get relief to pay minimum margin.

Mohsin Mushtaq emphasized the provision of essential commodities at affordable prices.
Provinces were asked to take strict action against hoarding, adulteration, smuggling, undue profiteering and to ensure uninterrupted supply of daily use items to masses at lower prices.

Federal Government would provide all possible cooperation in this regard for stability of prices in the country while Utility Store Corporation was also instructed to ensure strict control on the quality of daily use items in their all outlets.

The committee was informed that CPI inflation year on year is recorded at 8.2 % in August 2020 as against 10.5 percent during the same month last year.

The committee noted that average inflation during Jul-August FY 2021 also showing declining trend and recorded at 8.7 percent as compared to 9.4 percent same period last year.

The government in consultation with all stakeholders is proactively taking measures to control the general price level of daily use items at country level.

Provincial governments and ICT informed that they are regularly monitoring the prices and taking strict action against hoarding and undue profiteering.

Government in consultation with all stakeholders is proactively taking measures to control the general price level of daily use items at Federal, provincial and district levels.