Ministry directed to control prices of edible oil

Published December 2, 2021
Adviser on Finance and Revenue Shaukat Tarin chairs a meeting of the National Price Monitoring Committee (NPMC) on Wednesday. — PID
Adviser on Finance and Revenue Shaukat Tarin chairs a meeting of the National Price Monitoring Committee (NPMC) on Wednesday. — PID

ISLAMABAD: The National Price Monitoring Committee (NPMC) on Wednesday directed the Ministry of Industries and Production (MoIP) to take measures for controlling the prices of edible oil in domestic market.

Chaired by Adviser on Finance and Revenue Shaukat Tarin, the NPMC reviewed prices of daily commodities and essential food items including edible oil in the country.

An official announcement said the finance adviser urged the MoIP to control the prices of edible oil and adjust the rates according to the prices in the international market especially when international prices are declining. He further advised for making efforts for the availability of strategic reserves of edible oil.

On the availability of pulses stock in domestic market, the meeting was informed that moong pulse production has increased as compared to last year. Mr Tarin advised for increasing the production of pulses in the country and thereby reducing the burden of imports.

NPMC told fertilisers’ prices have begun to decline

On the stock position of fertilisers, the meeting was informed that prices have begun to decrease due to effective administrative measures.

Secretary Finance Yusuf Khan said the prices of wheat flour bags remained consistent at Rs1,100 per 20 kg due to the proactive measures of Punjab and Khyber Pakhtunkhwa governments and the Islamabad Capital Territory (ICT) administration. The daily release of wheat by all the provincial governments will further ease out wheat prices at national level, he added.

On the occasion, chief secretary Punjab apprised that sufficient stocks of wheat were available and released accordingly.

While reviewing the price of sugar, secretary finance said rates were decreasing in the country due to proactive measures of the government. New stocks of sugar are arriving in the market which will further lower the prices, he added.

Mr Tarin expressed satisfaction over the stability in sugar prices in the market.

Secretary finance briefed the NPMC about the weekly SPI situation which decreased by 0.67 per cent during the week under review. Prices of eight essential commodities registered decline whereas prices of 23items remained stable during the last week, he added.

He also apprised the meeting that prices of essential commodities including tomatoes, onion, potatoes, chicken and sugar registered significant decline during the week as compared to the same period of last year.

Published in Dawn, December 2nd, 2021

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