NPMC reviews prices of essential commodities

Measures in place to curb hoarding, market speculation

ISLAMABAD:

Minister for Planning Development and Special Initiatives, Ahsan Iqbal on Thursday directed the concerned stakeholders to ensure the smooth supply of essential commodities in local markets. He also stressed on the need to curb speculations that distort the market.

The minister issued these directions while chairing a meeting of the National Price Monitoring Committee (NPMC).

The meeting reviewed progress on the supply of different essential commodities after the recent flash floods in the country.

The meeting was attended by the chief economist, chief secretary of Punjab, representatives from FBR, PBS and the Ministry of Food Security and Industries.

In order to ensure the supply of edible commodities and to maintain their prices after the floods, the Ministry of Planning Commission took a lead while activating the NPMC last week.

On a weekly basis, the NPMC reviews prices of essential items and ensures that there is no speculation resulting in hike of market prices. The committee also ensures that the distribution of essential commodities is not delayed.

Directing the concerned stakeholders to take stern action against those involved in market hoarding, Iqbal also urged the chief secretaries of all provinces to ensure there is no hoarding of essential items, particularly wheat.

After the import of tomatoes and onions, prices decreased in the market, the committee informed the minister. It was further informed that from next week onwards, the prices will decrease further in order to facilitate the people.

The Ministry of National Food Security was also directed to engage with palm oil manufactures and immediately take steps to reduce prices.

Published in The Express Tribune, September 16^th, 2022.

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