Finance Minister Shaukat Tarin has commended the government of Punjab and Islamabad Capital Territory (ICT) administration for daily release of wheat at government’s specified price, which has eased pressure on prices of wheat flour.
Chairing a meeting of the National Price Monitoring Committee (NPMC) at the Finance Division on Wednesday, he took strict notice of the prices prevailing in Sindh and Balochistan. He urged chief secretaries of the two provinces to initiate daily release of wheat to stabilise prices of the commodity.
At present, the price differential is clearly visible in Punjab and other provinces.
The NPMC stressed the need to ensure a smooth supply of wheat at the government’s notified price throughout the country.
The Ministry of National Food Security and Research secretary told the committee that sufficient stock was available with the government till the arrival of the new crop.
Read IPC ministry directed to push Sindh to release wheat
The NPMC reviewed price trends in the global market and decided to pass on the minimum impact to the consumers.
Taking notice of the situation, Tarin directed the Ministry of Industries and Production and the Federal Board of Revenue to accelerate the process of providing relief to the consumers in prices of edible oil through duty concessions.
The Ministry of Industries and Production secretary updated the meeting about the opening of a tender for import of 50,000 tons of sugar.
He apprised the participants of the progress on provision of sugar at the government’s fixed price through the networks of Sahulat Sasta Bazaars and Utility Stores.
The finance minister expressed satisfaction over the availability of sufficient stock of wheat and sugar and said that it would help in stabilising prices.
Published in The Express Tribune, October 7th, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.