The finance ministry has said in a press release that despite floods wreaking havoc across the nation, there are sufficient wheat stocks and damage to crops is manageable.

According to the press release, the Steering Committee on Inflationary Trends in Pakistan was convened today to assess the key domestic and international factors influencing price dynamics.

“The finance minister underscored that controlling inflation and ensuring price stability remain among the top priorities of the government, especially to safeguard vulnerable and low-income households, including those affected by recent floods,” the statement read.

“It was noted that sufficient wheat stocks, excluding strategic reserves, are currently available [and] initial assessments suggest that the damage to the rice and sugarcane crop is manageable,” the ministry said.

“The finance minister stressed the need for strict monitoring and vigilance against market speculation to prevent any artificial price increases.”