LAHORE: Chief Minister Maryam Nawaz has instructed that the special monitoring unit (SMU) be fully operational within six months and has approved a new price control mechanism in line with international standards.

During a meeting on Friday, the chief minister received a detailed briefing on strategies to ensure effective price control and address related issues.

The meeting reviewed proposals aimed at boosting wheat production, ensuring the availability of essential commodities, and establishing fixed pricing.

She said that measures be taken to increase the cultivation of sunflower, soybeans and canola to reduce reliance on imported palm oil.

She also highlighted the importance of enhancing local production to meet the demand for tomatoes, onions, and other commodities across the province.

A plan to issue ‘Forecast Bulletins’ to stabilize market prices was agreed upon, alongside the use of artificial intelligence for price monitoring within the SMU.

Also, the establishment of an ‘Agri Monitoring Fund’ was discussed, along with measures to connect farmers directly with buyers.

The proposal to register market traders was also reviewed, and she directed that the nomination of the PAMRA Board and market committee chairman be expedited.

During the briefing, the recent rise in ghee and edible oil prices was discussed which was primarily due to the global price increase of palm oil.

The chief minister said the lack of wheat purchases had resulted in positive economic impacts for the country and its citizens.

She directed officials to closely monitor fluctuations in wheat and flour prices and to ensure that appointments within the SMU are made on a merit basis.

Ms Nawaz reassured that the interests of the general public, farmers and businesses would be prioritised, with decisions made in consideration of the welfare of Punjab’s residents.

Published in Dawn, October 19th, 2024