NPMC worried over high flour prices in Quetta

Tarin directs Balochistan govt to increase stock, ensure daily wheat release to mills

ISLAMABAD:

Federal Minister for Finance and Revenue Shaukat Tarin has advised the Ministry of Industries and Production to expedite the process of building strategic reserves of sugar to keep prices stable.

He asked the ministry to draw up a pattern of demand and supply of different varieties and brands of edible oil and take corrective measures to control the undue price hike.

Chairing a meeting of the National Price Monitoring Committee (NPMC) on Tuesday, the finance minister expressed concern over higher prices of wheat flour in Quetta as compared to other cities.

He directed Balochistan government to take concrete measures for bringing stability to the wheat flour prices by increasing its stock and through daily release of wheat to flour mills.

Discussing the prices of pulses, Tarin advised the provincial authorities to control price hike by keeping a check on hoarders and supply disruptions.

Moreover, he directed the provincial authorities to take measures for reducing the wholesale and retail price gap.

“Efforts are being made to keep prices of essential items in check and ensure smooth supply of commodities throughout the country,” Tarin underlined.

On the occasion, the Finance Division’s economic adviser apprised the meeting of the reading of Sensitive Price Indicator (SPI), which increased 1.35% in the previous week as compared to a decline of 0.11% in the prior week.

It was informed that 33 food items contributed to the increase in SPI by 1.3%, whereas 18 non-food items contributed to the increase of 0.05%.

Prices of 23 items remained stable during the week, whereas prices of six items decreased, which contributed to the decline of 0.17% in the SPI.

During the week under review, prices of potato dropped 0.05%, onion 0.03%, eggs 0.04% and others 0.05%.

However, prices of 22 items rose, which included increase in prices of tomato by 0.97%, chicken 0.40%, garlic 0.02% and others 0.13%, contributing to the increase of 1.52% in the SPI.

NPMC was informed that prices of potato, onion, eggs, sugar, moong and mash (pulse) had shown a decline during the week.

The meeting was also apprised that a decrease had been witnessed in the wholesale and retail prices of various items during the week under review.

 

Published in The Express Tribune, February 9^th, 2022.

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