ISLAMABAD: The National Price Monitoring Committee (NPMC) was informed on Tuesday that inflation came down to 2.5 per cent in March this year, which was the lowest in the last 12 years.

The committee, chaired by Finance Minister Ishaq Dar, was further informed that the decline in inflation was broad-based as food inflation was recorded at 0.5pc, non-food at 3.9pc, core inflation 5.9pc, sensitive price index 1.9pc and wholesale price index 3.7pc.

The minister emphasised that provinces should play a proactive role and make extensive administrative interventions to further ease the price level and also devise a comprehensive plan to improve the supply situation of essential items at reasonable prices in Ramazan.

He also advised the provincial governments to identify areas where they need federal government’s assistance.

The federal government, he said, was ready to provide maximum support at all levels for the benefit of common man.

He expressed concern over the rising trend in the prices of pulses and dairy products.

He directed the Ministry of Food Security and Research to give a comprehensive presentation on the measures for attaining price stability, and overcoming demand-supply gap in the production and consumption of pulses and other minor crops.

The minister directed the Competition Commission of Pakistan (CCP) to give a presentation in May after investigating the variations and rise in prices of milk and pulses. He emphasised on expediting the process of executive magistracy system.

The Ministry of Interprovincial Coordination informed that the Council of Common Interests (CCI) approved, in principle, the proposed amendments in the Code of Criminal Procedure (CrPc) 1898 for restoration of executive magistracy and to place the draft bill before parliament.

The Ministry of Law, and the provincial governments of Sindh, KP and Punjab have supported the proposal and have shown their consent to become a party in the appeal filed in Supreme Court by Government of Balochistan. The minister also directed the provinces to devise a mechanism to eliminate inter-provincial price disparity.

The meeting was informed that the SPI for the week which ended on April 23 decreased by 0.14pc.

Out of 53 items, prices of 11 items registered increase which included onion 12.53pc, bananas 2.03pc, mash 1.20pc, milk fresh 0.64pc, garlic 0.23pc, moong 0.08pc, irri-6, bread plain, beef, mutton, milk powdered Nido, gram pulse, kerosene, petrol and diesel.

Prices of 15 items decreased which included tomatoes 13.87pc, chicken farm 7.32pc, potatoes 5.00pc, eggs 3.96pc, LPG 2.46pc, cooking oil 1.26pc, vegetable ghee 1.10pc, wheat 0.66pc, rice basmati broken 0.63pc, wheat flour 0.41pc, mustard oil 0.32pc, red chilli powder 0.28pc, vegetable ghee 0.25pc, masoor 0.22pc and sugar 0.14pc.

Published in Dawn, April 29th, 2015

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