ISLAMABAD, May 24: The government on Thursday suspended the export of gram with immediate effect to stabilise prices in the domestic market.

The decision was taken through a notification issued here by the commerce ministry amending the Export Order 2006. The estimated local production of gram is around 800,000 tons as against the consumption of 550,000 tons.

The decision of imposing the ban on export was taken following the observation that in the international market, the price of gram had doubled compared to the local market that could accelerate the export of gram.

Meanwhile, in a meeting to review prices of essential commodities in the country, Prime Minister Shaukat Aziz said that the decision of suspending the export was taken to stabilise its price in the market with a view to safeguard the interests of the common man.

The prime minister said that it was heartening to note that the decision of the government to suspend the export of wheat had led to an immediate reduction in its price in the wholesale market and it was also impacting the retail prices of wheat flour.

He said the government will not allow vested interests to artificially manipulate the market prices of essential commodities through hoarding. He instructed provincial governments to release sufficient stocks of wheat in the market and asked them to keep a vigilant check on the supply and prices of essential commodities.

Mr Aziz said the government was making targeted interventions to provide the essential commodities to the common man on affordable prices and was using utility stores as a vehicle to provide subsidy on these items. He said the government will open at least one utility store in every union council across the country.

He emphasised the need to improve the distribution chain in the country, especially in rural areas, to ensure that more people could obtain essential goods from utility stores.

The managing director of the Utility Stores Corporation informed the premier that the number of utility stores had been increased from 450 to 1750 in one year, including permanent, franchise and mobile utility stores. Sixty percent of these stores have been opened in rural areas. He said the number of permanent stores had doubled to 900.