Tarin satisfied over stability in prices of sugar, veggies

By: News Desk      Published: 03:03 PM, 2 Dec, 2021
Tarin satisfied over stability in prices of sugar, veggies
File photo.

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has expressed satisfaction over the stability in the prices of sugar and vegetables in the market.

Shaukat Tarin, presided over the National Price Monitoring Committee (NPMC) meeting held at the Finance Division. Federal Minister for National Food Security & Research Syed Fakhar Imam, Minister of State for Information & Broadcasting Mr Farruk Habib, Secretary Finance, Secretary Industries & 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.

National Price Monitoring Committee 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. While reviewing the price trend of essential commodities, the Secretary Finance apprised that prices of 08 essential commodities registered decline whereas prices of 23items remained stable during the last week, he added.

The Secretary of Finance 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.

The Secretary Finance 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, KP Governments and ICT administration. The daily release of wheat by all the provincial governments will further ease out wheat prices at national level.

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

The Adviser Finance commended the efforts of the Government 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.

The Advisor expressed satisfaction over the stability in the sugar prices in the market.

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.

While reviewing the production of Pulses in the country, it was informed that Moog Pulse production has increased as compared to the 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 begun to decrease due to taking effective administrative measures.