FBR told to help stabilise edible oil prices

Published September 16, 2021
Finance Minister Shaukat Tarin chairs a meeting of the National Price Monitoring Committee on Wednesday. — Photo courtesy: PID
Finance Minister Shaukat Tarin chairs a meeting of the National Price Monitoring Committee on Wednesday. — Photo courtesy: PID

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

Opinion

Civil liberties
23 Oct 2021

Civil liberties

The late I.A. Rehman is esteemed on both sides of the border.
The Hamza factor
Updated 23 Oct 2021

The Hamza factor

A new story is quietly unfolding inside the PML-N and there may yet be a surprise twist.
What should Imran Khan do?
Updated 23 Oct 2021

What should Imran Khan do?

Making a mishmash of religion and politics won’t turn Pakistan into a welfare state. Here’s what can.
Afghan health crises
Updated 22 Oct 2021

Afghan health crises

The condition and prospects of Afghanistan’s health sector are complex and grave.

Editorial

A final push
Updated 23 Oct 2021

A final push

PAKISTAN’S hopes of exiting the so-called FATF grey list have been shattered once again. The global money...
23 Oct 2021

Kabul visit

FOREIGN MINISTER Shah Mahmood Qureshi’s flying visit to Kabul on Thursday is the first official high-level...
23 Oct 2021

Baqir’s blooper

THE remarks made by State Bank governor Reza Baqir at a London press conference have hit a raw nerve in Pakistan. In...
Spate of attacks
Updated 22 Oct 2021

Spate of attacks

Following a near-constant decline since 2016, the year 2021 has witnessed a precipitous rise in violence-related fatalities in KP.
22 Oct 2021

Libel suits

THE outcome of two libel cases recently decided by courts in England should be edifying for the government — if it...
22 Oct 2021

Education losses

A NEW report on the education losses suffered by Pakistani children due to pandemic-induced school closures sheds...