ISLAMABAD: The National Price Monitoring Committee (NPMC) has expressed concern over higher prices of wheat in Quetta and directed the Balochistan government to take steps to bring stability in its price in the province.

A meeting of the NPMC presided over by Finance Minister Shaukat Tarin on Tuesday ordered the provincial government to stabilise the prices by increasing wheat stocks and releasing it to flour mills daily.

The meeting was informed that the prices of wheat are stable in other parts of the country as sufficient stocks are available there.

According to an official announcement, the NPMC was informed that a slight decrease in sugar prices had been witnessed in the country last week.

Mr Tarin directed the Ministry of Industries and Production to expedite the process of building strategic reserves of sugar. The NPMC was updated on the prices of pulses and was informed that there was stability in the rates of moong, while other pulses had shown a slight increase.

The finance minister directed the provinces to control the hike in prices of pulses by keeping a check on hoardings and supply disruptions.

The secretary of the industries ministry updated the meeting on a strategy to ensure fair prices of edible oil in the market in coordination with the provincial authorities.

Mr Tarin directed the ministry to work out a pattern of demand and supply of different varieties and brands of edible oil and take corrective measures to control undue price hikes.

The meeting was briefed on the prices of essential commodities in Pakistan, India, Bangladesh and Sri Lanka. It noted that prices of daily-use items in Pakistan are the lowest in the region. The NPMC was briefed on the availability of essential goods at subsidised rates at Sastaa and Sahulat bazaars across the country. The Finance Division’s economic adviser briefed the meeting on weekly SPI which witnessed an increase of 1.35 per cent compared to the previous week.

The meeting was informed that prices of 23 items remained stable during the last week. However, a decrease in prices of six items contributed to a decline in SPI by 0.17pc.

Published in Dawn, February 9th, 2022