Federal Minister for Finance & Revenue Dr. Abdul Hafeez Sheikh chaired a meeting of the National Price Monitoring Committee (NPMC) on Monday.
Minister for National Food Security & Research Syed Fakhar Imam, Federal Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Abdul Razak Dawood, SAPM on Revenue Dr. Waqar Masood, Provincial Chief Secretaries, Secretary M/o Industries and Production, Additional Secretary M/o NFS&R, Additional Secretary Ministry of Planning, Development and Special Initiatives, Chairman FBR, Member CCP, Chairman TCP, MD USC, Member IT/HRM & Member National Accounts from PBS and senior officers of the Finance Division participated in the meeting.
The National Price Monitoring Committee (NPMC) reviewed the price trend of essential commodities especially wheat, sugar and edible oil during the week. Finance Secretary briefed the meeting that weekly SPI registered a decline of 0.22% and the main drivers behind decrease in SPI are falling prices of eggs, tomatoes, potatoes, onions and chicken. Prices of 21 basic items remained stable whereas 7 items registered a decline during the week.
M/o NFS&R apprised NPMC that all stakeholders are on board with reference to existing position of wheat stock in the country. Federal Minister for National Food Security and Research assured all possible measures would be taken to ensure smooth supply of wheat across the country.
The Finance Minister directed the provincial governments to follow a self-sustaining model and streamline daily release of wheat to ensure steady supply in the provinces as well as districts.
Federal Minister for Industries and Production Hammad Azhar updated NPMC about the recent decline in international prices of palm oil which will eventually reduce the upward pressure on the prices of edible oil in the domestic market.
