Tarin expresses satisfaction over stability in sugar prices in market

Tarin underscores efforts made for keeping essential commodities stable

ISLAMABAD, Dec 1 (APP):Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin Wednesday expressed satisfaction over the stability in the sugar prices in the market. He said this while presiding over the National Price Monitoring Committee (NPMC) meeting, which reviewed the prices of daily commodities and essential food items in the country.

The secretary finance briefed the NPMC about the weekly SPI situation which has been decreased by 0.67% during the week under review, said a press release issued here.

While reviewing the price trend of essential commodities, the secretary finance apprised the prices of eight essential commodities registered decline whereas prices of 23 items remained stable during the last week, he added.

He also apprised the meeting that prices of essential commodities tomatoes, onion, potatoes, chicken, sugar registered significant decline during the week as compared to the same period of last year. He further updated NPMC that the prices of the wheat flour bags remained consistent at Rs. 1100 per 20 kg due to the proactive measures of the Punjab, Khyber Pakhtunkhwa (KP) Governments and ICT administration. The daily release of wheat by all the provincial governments will further ease out wheat prices at national level, he added.

Chief Secretary Punjab apprised that sufficient stocks of Wheat are available and released accordingly.

The Adviser Finance commended the efforts of the Governments of the Punjab, KP and Islamabad administration and advised all provincial governments to ensure that all released Wheat is being converted into flour and available in market at government price.

While reviewing the price of sugar in the country, the Secretary Finance informed that prices are decreasing in the country due to proactive measures of the government. The new stocks of sugar are arriving in the market which will further lower the prices.

While reviewing the prices of edible oil, the NMPC observed that the increase in prices of edible oil in the global market has affected the local prices.
The Adviser, Ministry of Industries and Production for taking measures to control the prices of edible oil and adjust the rates according to the prices in the international market especially when international prices are declining.

He further advised to make efforts for availability of strategic reserves of edible oil.
While reviewing the production of pulses in the country, it was informed that Moog Pulse production has increased as compared to last year.
The Adviser advised to increase the production of pulses in the country and thereby reduce the burden on imports.

On the stock position of Fertilizers, it was informed that prices have begin to decrease due to taking effective administrative measures.
The NPMC observed that Sastaa and Sahulat Bazaars in Punjab, KP are offering essential goods at subsidized prices.

Tarin commended the efforts of the Governments of the Punjab, KP and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars.

The adviser expressed satisfaction on prices of commodities in Sastaa Bazars in Punjab, KP, Balochistan and ICT and further directed to establish such bazaars in more cities to provide maximum relief to the people.

In his concluding remarks, Tarin stated that the Government is taking all possible measures to ensure smooth supply of essential commodities throughout the country.

Federal Minister for National Food Security and Research Syed Fakhar Imam, Minister of State for Information and Broadcasting Farrukh Habib, Secretary Finance, Secretary Industries and Production, Secretary NFS& R, Additional Secretary Commerce, Chairman TCP, MD Utility Stores Corporation, Commissioner ICT, Provincial Chief Secretaries, Chief Statistician PBS and other senior officers participated in the meeting.