ISLAMABAD: The National Price Monitoring Committee at its meeting here on Friday expressed concern over rising trend in prices of potatoes and tomatoes despite zero duty on import of these commodities.

Finance Minister Ishaq Dar, who chaired the meeting, observed that the government was committed to take measures to control prices of daily needs with the support of provincial governments and other stakeholders so that there is no monopoly or cartelisation, and profiteers and hoarders are effectively checked.

He asked the Ministry of National Food Security to look into the increase in prices and suggest remedial measures in consultation with provincial governments to address the issue.

He said that the government had allowed zero-duty to make potatoes available to consumers at affordable prices.

The managing director of Utility Stores Corporation informed the meeting that there was a heavy rush at stores to purchase essential items at subsidised rates. And because there was a huge demand, it has created some shortage for the time being, but it was being covered immediately.

The finance minister reviewed prices of various items at various bazaars and in the open market and observed that these bazaars are providing commodities at lower rates than the open market.

The meeting was briefed that the federal government is providing subsidy amounting to Rs2 billion for the ‘relief package’ during the holy month of Ramazan. The essential consumer items are being provided at reduced rates through the utility stores all over the country.

Representatives of provincial governments briefed the committee about measures being taken to provide relief to masses.

The Punjab government has set up Ramazan bazaars and agricultural fair price shops for provision of items on wholesale rates.

The Sindh government informed the meeting that it had established Friday and Sunday bazaars as well as sasta bazaars.

The Khyber-Pakhtunkhwa government said it had established special bazaars in addition to Friday and Sunday bazaars.

The Balochistan government also briefed the meeting about measures being taken to provide relief during the holy month.

Addressing the meeting, Dar said that the government had succeeded to keep inflation in single digit during 2013-14 despite numerous challenges being faced by the economy.

The government had focus on economic reforms and took some difficult decisions to bring economy back on track. He said that the inflation has been contained as a result of appropriate monetary and fiscal policies and administrative measures, like monitoring of prices and supply situation in the country.

Published in Dawn, July 5th, 2014