ISLAMABAD: The National Price Monitoring Committee (NPMC) Wednesday directed the provincial chief secretaries to resume daily release of wheat at the price determined by the federal government to ensure smooth supply of wheat at affordable prices across the country.
The federal government had announced release price for wheat at Rs.1950 per 40kg, according to press statement issued by the Finance Ministry here.
Federal Minister for Finance and Revenue, Shaukat Tarin, while presiding over the NPMC meeting also reviewed the prevailing ghee prices and directed Chairman FBR to work out a strategy to ensure measurable impact on prices of ghee/edible oil in domestic markets.
The volatile prices of edible oil in international market have pushed up the local prices of ghee/vegetable in the country, he said and stress the need to have a sliding scale to link up prices of ghee in local markets with international markets.
While taking stock of the weekly calculation of SPI, the Finance Minister urged Member PBS to review its methodology and extend coverage by including foot print of Sasta/Itwar Bazaars in mainstream cities where upward pressure on prices of food items is absorbed through provision of food items at subsidized rates.
At present, the significant price differential between wholesale and retail prices in Sasta Sahulat Bazaars is not covered by PBS.
Earlier Secretary Finance briefed the participants that upsurge in international food prices is affecting the domestic prices as Pakistan is a net importer of staple food items namely wheat, sugar, ghee etc.
The international price hike is due to fall in global food production and high consumption demand coupled with supply chain disruptions due to COVID-19 pandemic.
Secretary Ministry of Industries and Production briefed the committee about the arrangements being made to import sugar with respective timelines.
The NPMC directed the Chief Secretary, Punjab to make requisite arrangements to lift the imported sugar stock at the earliest and ensure smooth supply of sugar to other provinces and chain of USCs as per demand.
The Committee directed the Provincial governments to ensure sale of sugar in the market at the price fixed by the government.
Special Assistant to Prime Minister on Food Security apprised the NPMC that a detailed strategy will be presented before NPMC to build strategic reserves of pulses as well as perishable commodities in order to stabilize prices of the items of daily use.
The detailed strategy would also include provision of enabling infrastructure including agri malls, storage facilities and commodity warehouses.
He also mentioned the plan to purchase pulses from farmers through PASSCO and Food Department to supply pulses at lower prices through USCs to the consumers and also specified Bazaars.
Moreover, the SAPM underlined to grow sugar beet as an additional crop to ensure steady supply of sugar at a fair price throughout the year.