ISLAMABAD, April 9: The Prime Minister’s Committee on Prices will meet later this month to review prices of various commodities in the country.

An official source said on Saturday that the committee would also recommend measures to the government for controlling the constant increase in prices of commodities.

He said that the first meeting of the committee, headed by advisor to prime minister on finance and revenue, Dr Salman Shah, was held here on Friday, in which a host of measures were decided for controlling prices of various commodities.

It was decided to counter the increase in prices of essential commodities caused by artificial shortages by the hoarders and the black marketers by increasing the supply of these items through imports from cheaper sources in the regional countries.

For this purpose, the authorities concerned were asked to review prices of these items in the regional countries and come up with specific proposals in the next meeting.

The committee decided to strengthen the information system pertaining to crop estimation, industrial output and stock position of different items as well as devise a forecast system in order to prepare reliable estimates of demand and supply of items so as to keep the prices of essential items in check.

It was also agreed to strengthen and expand the system of market committees to ensure supply of goods to the rural economy. It was also decided to effectively utilize district governments to check undue profit by hoarders and profiteers.

The Utility Stores Corporation was directed to ensure supply of essential items to low-income groups at reasonable prices.