ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin Tuesday stressed the need for accurate forecasting to ensure smooth supply of basic items at affordable prices across the country.
During a meeting with the Special Assistant to the Prime Minister (SAPM) on Food Security, Jamshed Cheema on price control strategy for essential commodities, the minister emphasized the role of provincial governments for taking proactive measures on top priority to bring price stability in items of daily use in compliance with the directives of the prime minister.
According to press statement issued by the finance ministry, the minister said a multi-faceted price stability strategy would be implemented to facilitate farmers by offering price guarantees and confirmed take off to protect them from exploitation at the hands of middleman/wholesalers.
Investment through public private partnership will be invited to develop multipurpose storage facilities for maintaining strategic reserves, he added.
On the occasion, Jamshed Cheema apprised about the significance of maintaining strategic reserves and strict implementation of administrative measures in order to provide maximum relief to the consumers.
After detailed deliberations, it was decided that the SAPM would hold consultations with all relevant stakeholders including Provincial Chief Secretaries and chalk out a comprehensive plan to examine the entire food chain of fifteen basic commodities from farm to retail market and identify gaps which needs to be filled in through accurate forecasting and proactive decision making to ensure availability of essential items at fair prices.
Similarly, there would be a renewed focus on an effective communication strategy to keep general public well-informed about the measures being taken to ensure price stability and smooth supply of essential items throughout the country.
It was also decided that key focus will be on provision of targeted subsidies for a meaningful market intervention.
Secretary Finance Division and Economic Advisor Finance Division also participated in the meeting, the statement added.