Tarin concerned over rising sugar prices

Directs provincial authorities to control commodity’s rates in markets

ISLAMABAD:

Expressing concern over rising prices of sugar, newly elected Finance Minister Shaukat Tarin directed provincial authorities to take appropriate steps for controlling the commodity’s rates in markets.

Chairing a meeting of the National Price Monitoring Committee (NPMC) on Wednesday, Tarin told the Ministry of National Food Security and Research to devise a suitable plan for bringing milk prices to optimal levels in order to ensure its smooth and sustainable supply.

He stressed that the government was taking measures to keep prices of essential commodities in check across the country.

He commended the efforts of Punjab and Khyber-Pakhtunkhwa (K-P) governments and the Islamabad administration for arranging Sasta Bazaars to provide essential goods at discounted rates.

He also expressed satisfaction over the availability of essential items at low rates in Sasta Bazaars of Sindh and Balochistan.

On the occasion, the Finance Division’s economic adviser briefed meeting participants about the Sensitive Price Indicator (SPI) and said that it had registered an increase of 0.4% in the previous week.

Prices of five items decreased during the week, which kept the SPI lower by 0.12%.

On a year-on-year basis, prices of potato declined by 0.04%, chilli powder by 0.03%, onion by 0.02%, wheat flour by 0.03% and jaggery by 0.0004%, the meeting was informed.

Prices of onion were lower than they were three years ago, the NPMC was told.

Prices of 23 items remained stable, whereas 23 items registered an increase in prices which included sandals (ladies) 0.12%, tomato 0.03%, liquefied petroleum gas (LPG) 0.16%, eggs 0.07% and others 0.14%.

Fluctuations in petroleum prices affected the LPG rates and the rise in ladies’ shoe prices was due to the annual increase in rates by the manufacturing companies.

The meeting was informed that the price of wheat flour declined during the week and it expressed satisfaction over the availability of sufficient stocks of the staple wheat crop.

Published in The Express Tribune, December 30^th, 2021.

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