Tarin directs for devising strategy to enhance potato exports: expresses concerns on low stocks of diesel
ISLAMABAD
Finance Minister Shaukat Tarin has expressed concerns over an increase in edible oil prices and directed for expediting action against manufacturers to address the issue of over-charging.
Presiding over a meeting of the National Price Monitoring Committee (NPMC) on Wednesday, the minister further directed to increase the imports of edible oil for sustainable availability in future.
He underscored the efforts being made for keeping the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country.
The secretary of the Ministry of Industry and Production (MoIP) briefed the meeting on available stocks of edible oil and strategy to bring stability in its prices.
Keeping in view the bumper crop prospects, Tarin directed the Ministry of National Food Security and Research (NFS&R) to make a strategy for increasing the export of potatoes. He also directed the ministry to set up a production forecasting unit for major and minor crops for timely decision making.
The economic adviser of the Finance Division briefed the meeting about the weekly Sensitive Price Indicator (SPI) which witnessed an increase of 0.22 percent as compared to decline in previous week by 0.08 percent. The meeting was told that 33 food items contributed to an increase in the SPI by 0.31 percent, whereas 18 non-food items contributed a decrease of 0.09 percent. The NPMC was informed that prices of 12 items remained stable last week whereas that of 11 items decreased, contributing to a 1.08% decline in SPI by 1.08%.
The NPMC was updated on the wheat flour prices in the country. The secretary Ministry of NFS&R informed on the stock position of wheat and further apprised on the future requirements and the strategy for sustainable availability of wheat in the country.
Tarin expressed concerns on the low daily release of wheat by the Balochistan government and directed the provincial authorities to bring stability in the prices of wheat flour by increasing daily release of Wheat to the flour mills.
The NPMC was also apprised on the sugar prices in the country and the secretary MoIP briefed the meeting on the process for building strategic reserves of sugar in the country to maintain stability in prices.
The NPMC was informed that there was stability in Moong prices and witnessed less prices as compared to its prices in the last year. The committee was informed that there is no shortage of fertilizers in the country, on which it directed MoIP to formulate strategy to rationalise the prices of fertilizers in the light of the decision to provide subsidised supply of gas to the fertilizer manufacturers and for providing adequate relief to the growers.
The meeting was also apprised on the wholesale and retail prices of daily commodities in the country and it was informed that a decrease has been witnessed in the wholesale and retail prices of various items in the last week. A slight increase has been witnessed in the wholesale and retail prices of potatoes and onions which was attributed to the increase in the transportation charges.
The NPMC also discussed the stock position of oil products in the country and expressed serious concerns on the low stocks of HSD and directed the Petroleum Division to take cognizance of the issue and ensure smooth availability of POL in the country.
The finance minister appreciated the efforts of the governments of Punjab, KP and Balochistan, and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars.
