ISLAMABAD
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Saturday chaired an online meeting of the National Price Monitoring Committee (NPMC), reviewing prices of essential commodities, transport fares and the overall supply chain situation across the country.
The meeting was briefed by the Pakistan Bureau of Statistics (PBS) that transport costs had witnessed a significant decline due to government subsidies, with fares reduced by 20 to 30 percent in several cities, a news release said.
However, taking notice of increased fares in Karachi, the minister directed the Sindh government to take immediate corrective action.
Data presented in the meeting showed that prices of eight essential items decreased during the last week, while 28 items recorded an increase.
The prices of garlic, bananas, chicken and wheat flour declined by 3.78 percent, 3.39 percent, 1.05 percent and 0.73 percent, respectively, whereas diesel, petrol, tomatoes, LPG and potatoes registered notable increases.
The Sensitive Price Index (SPI) remained broadly stable, recording an overall rate of 1.93 percent during the week under review.
The prices of ghee and edible oil also remained stable, while domestic fertilizer prices were kept under control despite rising global trends.
The Committee expressed concern over the significant gap between wholesale and retail prices in certain cities, particularly Karachi, where tomato and potato prices showed disparities of up to 142 percent and 117 percent, respectively.
The minister directed provincial governments to ensure better price alignment between wholesale and retail markets.
Ahsan Iqbal instructed the relevant authorities to take strict action against profiteering and hoarding, ensure uninterrupted supply of fertilizers, and maintain adequate availability in view of upcoming crop sowing.
He also stressed the need strengthening the monitoring mechanism to keep a close check on price fluctuations.
The minister said that, on the special directives of the prime minister, all possible relief must be provided to the public and abnormal increases in food prices must be prevented.
He expressed satisfaction that transporters were acting responsibly and that the benefits of government subsidies were reaching the people, while stressing the need for continued coordinated efforts to stabilize prices as the situation had not yet fully normalized.
