ISLAMABAD: Finance Minister Shaukat Tarin has directed the Federal Board of Revenue (FBR) to work out a strategy to ensure measurable impact on prices of ghee/edible oil in domestic market.
He issued the directive while chairing a meeting of the National Price Monitoring Committee (NPMC) here on Wednesday. It was attended by all stakeholders.
An official statement said that volatile prices of edible oil in international market had pushed up local prices in the country. The minister stressed the need for having a sliding scale to link up prices of edible oil in local market with international market.
Special Assistant to the Prime Minister on Food Security Jamshed Cheema told the meeting that a strategy would be presented before the NPMC to build strategic reserves of pulses and perishable commodities in order to stabilise prices of the items of daily use. The strategy will include provision of enabling infrastructure, including agri malls, storage facilities and commodity warehouses.
The SAPM also mentioned the plan to purchase pulses from farmers through Passco and the food department to supply pulses at lower prices to the consumers through Utility Stores and specified bazaars. Moreover, Mr Cheema underlined to need to grow sugar beet as an additional crop to ensure steady supply of sugar at a fair price throughout the year.
The NPMC 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 release price for wheat is Rs1,950 per 40kg.
The representative of the ministry of industries and production briefed the committee about the arrangements being made to import sugar with respective timelines.
Published in Dawn, September 16th, 2021