NPMC reviews price trend of essential commodities

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DNA

ISLAMABAD, DEC 21 – Federal Minister for Finance and Revenue Dr. Abdul Hafeez Sheikh chaired the meeting of the National Price Monitoring Committee (NPMC).

Adviser to the PM on Commerce Abdul Razaq Dawood, SAPM on Revenue Dr. Waqar Masood, Secretary MNFS&R, Special Secretary Commerce, Additional Secretary Industries and Production, Chairman FBR, the Provincial Chief Secretaries, MD PASSCO, MD Utility Stores Corporation (USC), Chairperson CCP, Chairman TCP, Member PBS and senior officials of the Finance Division participated in the meeting.

The National Price Monitoring Committee (NPMC) reviewed the price trend of essential commodities. The Finance Secretary apprised NPMC that there has been a consistent decline in the weekly SPI over the last four weeks. SPI registered a decline of 0.22%, notably in essential food commodities namely wheat, tomatoes, onions, potatoes and chicken.

The Finance Minister noted the increase in prices of eggs and vegetable ghee and urged the Provincial governments to strictly monitor their prices. The Chair further directed the Secretary Commerce to call a meeting with representatives of the Provincial governments and FBR to take further steps in this regard.

During the meeting, the Secretary MNFS&R presented before NPMC the current status of wheat and sugar stocks. The improved availability of both commodities has resulted in significant decline in prices for the consumers.