Govt taking range of measures to absorb inflationary pressure

October 27, 2021: Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin said Wednesday that the government was taking a range of administrative, policy and relief measures to absorb the upward pressure on prices of basic food commodities globally.

Presiding over the National Price Monitoring Committee (NPMC) meeting here, the adviser said the government was also taking all possible measures to ensure a smooth supply of essential commodities throughout the country.

The adviser commended the efforts of the representatives of the Punjab government and Islamabad administration, however, expressed deep concern over the significant price differential in wheat flour prices in Sindh province as compared to other provinces.

He directed the Provincial Chief Secretary Sindh to expedite the process of daily releases of wheat at the price determined by the government to ease out the pressure on prices.

The Adviser reiterated the firm commitment of the government to ensure a smooth supply of wheat flour across the country at a government-specified price.

Earlier, Secretary Finance briefed the NPMC about the weekly SPI situation which has been increased by 1.38% during the week under review.

While reviewing the price trend of essential commodities, the Secretary of Finance apprised that the rise in global food commodities and petroleum prices has affected the prices of essential food items worldwide.

Prices of 07 essential commodities registered decline whereas prices of 15 items remained stable during the last week, he added.

The Secretary of Finance further updated the 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 Government and ICT administration.

The Chief Secretary, Punjab apprised the NPMC that the crushing of sugarcane would begin by November 15 in Punjab.

Tarin directed the Chief Secretary, Sindh to ensure the crushing of sugarcane to start as soon as possible to ensure a stable price of sugar across the country. He also directed all provincial governments to finalize the indicative price of sugarcane at the earliest.

Tarin directed Pakistan Bureau of Statistics to draw a province-wise comparison of weekly SPI. The decision has been taken to analyze the price differential in SPI among provinces to differentiate the individual Province’s efforts.

The Chief Secretary Baluchistan also highlighted the need for expanding USC outlets and establishing cold storages facilities in the Province, on which Shaukat Tarin directed the concerned ministries to coordinate with the Baluchistan government to expedite the matter.

Minister of State on Information highlighted the need to increase the footfall of Sasta Bazars, to make sure the benefit reaches a maximum number of people on which the adviser directed the provincial governments to devise the strategies for the same.

Among others, the meeting was attended by Federal Minister for National Food Security & Research, Syed Fakhar Imam; Minister of State on Information, Farrukh Habib; Adviser to the Prime Minister on Commerce, Textile & Investment, Abdul Razak Dawood; Federal Secretaries, MD Utility Stores, Provincial Chief Secretaries, Chief Statistician PBS, Chairperson CCP, Member FBR and other senior officers.

APP