National Price Monitoring Committee meets under the chair of Federal Minister for Finance and Revenue Dr. Abdul Hafeez Sheikh
Islamabad, December 28, 2020 (PPI-OT): Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Sheikh, chaired the meeting of the National Price Monitoring Committee (NPMC) today. The meeting was attended by Minister for Industries and Production, Special Assistant to the Prime Minister on Revenue, Provincial Chief Secretaries, Secretary Planning Development and Special Initiatives, Secretary Industries and Production, Chairman FBR, Additional Secretary M/o NFS and R, Joint Secretary Commerce, Chairperson CCP, Chairman TCP, MD PASSCO, MD Utility Store Corporation, Member PBS and senior officers of the Finance Division.
The National Price Monitoring Committee (NPMC) reviewed the price trend of essential commodities. The Finance Secretary briefed NPMC that there has been a nominal increase in weekly SPI by 0.11%. Prices of 10 basic items decreased notably onions, potatoes and chicken whereas eggs, wheat flour and tomatoes registered a slight increase during the week. M/o NFS and R updated NPMC about the current status of wheat and sugar stocks.
The improved availability has ensured steady supply of both commodities across the country. The wheat stock position is sufficient for the domestic consumption and average per day release to the provinces is also satisfactory. The Chair directed the Provincial governments to keep close watch on the prices of wheat in the market to avoid hoarding, black marketing and smuggling to ensure uninterrupted supply of wheat at affordable prices.
The Finance Minister noted the increase in prices of eggs, wheat flour and tomatoes and directed to take all possible measures to bring down the prices of these essential items. Hammad Azhar, Minister for Industries and Production apprised that they are closely monitoring the prices of sugar and edible oil to ensure uninterrupted supply at fair prices. The Chair emphasized an increased coordination among all government functionaries for efficient monitoring of prices of essential items to provide maximum relief to the general public.
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