The National Price Monitoring Committee (NPMC) has expressed deep concerns over a significant price differential in the key commodities, namely wheat flour and sugar, in different provinces including Sindh.
The NPMC meeting was held on Wednesday with Advisor to the Prime Minister on Finance and Revenue, Shaukat Tarin. Economic Advisor Finance Division briefed the NPMC on year-on-year (YoY) and month-on-month (MoM) inflation indicators.
Shaukat Tarin advised the provincial representative of the Sindh government to expedite the process of daily releases of wheat at the price determined by the government to ease out the pressure on prices. He also directed Chief Secretary Punjab to provide sugar to the Khyber Pakhtunkhwa government in order to stabilize the prices of sugar in the province. The NPMC urged the Government of Sindh to finalize the indicative price of sugarcane at the earliest.
The NPMC was told that there was a slight increase in the YoY consumer price index (CPI) equal to 9.2% in 2021-22 as compared to 8.9% last year, and the increase in CPI was due to the rise in international prices of food commodities and crude oil.
The Economic Advisor said the government made all-out efforts to absorb the hike in prices internationally by providing direct food subsidies on wheat flour, sugar, and pulses.
The NPMC noted a significant differential in YoY prices of seasonal vegetables. It was observed that the price of onions was Rs. 47 per kg as compared to Rs. 74 per kg last year. Similarly, the price of tomatoes was Rs. 104 per kg this year, whereas it was Rs. 198 per kilo last year. However, it was further noted, the week-on-week increase in the prices of seasonal vegetables, namely potatoes and tomatoes in Punjab hiked due to supply-side disruptions caused by Tehreek-e-Labbaik Pakistan protests. The Economic Advisor further updated the NPMC about the stability in prices of pulses during the week under review.
Secretary Ministry of National Food Security & Research updated the NPMC about the sufficient availability of wheat flour across the country. The stock of wheat will last longer before the arrival of the fresh crop, he asserted.
The NPMC observed that Sastaa Sahulat Bazars in Punjab were offering essential goods at subsidized prices. The Advisor to the PM on Finance & Revenue commended the efforts of the Punjab government and Islamabad administration in providing key items at discounted prices through a network of Sastaa Bazaars. He urged the respective provincial governments to make similar requisite arrangements to ensure a smooth supply of essential commodities at fair prices throughout the country.
Federal Minister, Syed Fakhar Imam, Federal Secretaries, Deputy Commissioner Islamabad, provincial Chief Secretaries, Managing Director Utility Stores Corporation, Chief Statistician, and other senior officers attended the meeting.
Source: Pro Pakistani