ISLAMABAD: The prices of essential commodities have been declining consistently over the past three weeks, the National Price Monitoring Committee (NPMC) was informed on Monday.
The meeting, which was chaired by Finance Minister Dr Abdul Hafeez Shaikh, reviewed the availability of essential commodities, including wheat, flour, sugar, tomatoes, chicken, etc., and was apprised by the finance secretary that prices had been declining consistently for the past three weeks.
It was underscored during the meeting that as per the SPI data, the prices of some essential commodities declined by 0.3 per cent in the last week due to the availability of wheat, sugar and vegetables following import by the government and private sector.
The finance minister appreciated the efforts of the concerned ministries and departments for keeping the prices of essential commodities in check. He, however, directed the provincial governments to strictly monitor the prices of chicken while ensuring minimal gap between demand and supply.
Shaikh also held a detailed discussion with MNFS&R secretary, and provincial chief secretaries regarding the position of wheat and sugar stocks in the country.
The MNFS&R secretary told the meeting that sufficient wheat stocks are available across the country. He also said that the Azad Jammu and Kashmir (AJK) government has demanded additional quantity of wheat, which will be fulfilled in time.
The finance minister approved the provision of wheat to Utility Stores Corporation (USC). The final approval in this regard will be granted by the Economic Coordination Committee (ECC) of the federal cabinet next week.
During the meeting, industries and production secretary said that the slight increase in the price of vegetable ghee is due to spike in international prices. Shaikh directed the Ministry of Industries and Production to monitor international market trends and to take necessary measures to minimise impact on domestic prices.
