Federal finance minister, Ishaq Dar presided over the meeting. PHOTO: Government of Pakistan website
Presiding over the 17th meeting of the National Price Monitoring Committee, Dar said that district price control committees would be established that would comprise of representatives from government bodies, consumers and producers.
The finance minister said that price hikes will be controlled by acting on the recommendations put forth by the committee.
Dar expressed regret at the fact that a mechanism to monitor prices could not be devised even after holding talks with the government for 45 days, and issued a call for making consumer protection laws functional.
The finance minister said that he looked forward to the cooperation of the provinces so that the price disparities amongst the provinces could also be monitored.
The committee reviewed the price trend of 28 selected items in the provinces and it was decided that the price of essential items will be fixed.
Dar said that surprise checks would be carried out to ensure the price list is adhered to and the provinces would be required to submit a weekly report to the finance ministry.
"Traders in Sindh would be warned against black-marketing, hoarding and profiteering," said the finance minister, adding that Food Department and Utility Stores Corporation would bring their stocks in the market in case of shortage.
Fair price shops and Ramazan Bazars would also be formed in all the provinces.
The government has already announced a Rs2 billion Ramazan relief package.
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These things appear pretty on papers and in meetings, but sadly never being implemented..
I would like to become a member of price control committee during the month of Ramadhan but I would like to have magesterial powers to fix the shopkeepers who are charging more money than the prescribed rates.
I can be contacted through my twitter account @syedamateen
If Mr. Ishaq Dar is serious in controlling the prices in Karachi then he should establish contact with me and he will see himself how I will use my Maula Bux to put every shopkeeper straight, otherwise they will be put behind the bars or they will be penalized severely.
45 days n still no mechanism....I guess they only need thirty more
This guy, reminds of a lot of previous minister Malik ! He seems to have too much to say, however there is very little substance or possible actions to deliver ! Why are you wasting your time with these completely ridiculous and unlikely schemes ? Is it to convince the fools, that elected you, that you are actually doing your job ? If that's the case, then Sir, you will fail miserably.
In west we have festival sales when prices are reduced quite significantly. There X-Mas sales, Memorial day sales and what not. Sales at Thanks Giving Day is US are so significant that people camp over night in front of stores. On the other hand prices are jacked up in the sub-continent at the time of all major festivals. Not only the prices are jacked up, spurious food items are sold on a large sale to make money at the cost of public health. Whatever one might say about west, people of sub-continent are morally and ethically corrupt.
Thanks for giving 11 rupees each pakistani in Ramada relief package Mr Dar!!!! you should be a head of IMF not Pakistan Finance Minister......
Genius! Very innovative way to curb inflation. You rock Mr. Dar. This timely intervention from as high as a senior finance minister into the matters of a district magistrate will definitely rescue pakistan from all it miseries. Only stunt now left is Mian brothers going door to door to check electricity meters to stop power theft for reducing load shedding.
I like Ishaq Dar so far, he is looking for a strong Pakistan economy.
The government should not waste time and energy on artificial price ceilings. At best, it should continue to focus on monetary policy measures to contain inflation at the national level, and focus on efficient and adequate supply at the local level. Price ceilings alone will either be unenforceable or necessitate massive subsidies.