Provincial authorities asked to timely procure wheat, sugar for controlling commodities’ prices

ISLAMABAD – Federal Minister for Finance and Revenue Shaukat Fayyaz Ahmed Tarin on Monday has directed the provincial governments and departments concerned to work out estimates and procure wheat and sugar in a smooth and timely manner to control the commodities prices.

Finance minister underscored the importance of maintaining strategic reserves of essential commodities. He made these remarks while chairing the meeting of the National Price Monitoring Committee (NPMC) at the Finance Division. The NPMC reviewed the price trends of essential commodities especially wheat flour, sugar, edible oil and ghee, chicken, eggs and vegetables during the last week. The secretary finance briefed the committee about the decline in weekly SPI by 0.40 per cent, whereas prices of 13 items recorded a decline and 26 items remained stable. Prices of essential commodities including tomatoes, onions, sugar, potatoes and poultry were reduced during the week under review.

The Pakistan Bureau of Statistics (PBS) briefed the finance minister about data collection methodology and updated on the recent changes incorporated to reflect price variation between wholesale and retail levels across different cities. The finance minister emphasised to extend the market coverage by including more cities and local areas including Ramazan Saasta/Sahulat Bazaars. The data must represent and reflect prevailing price trends accurately, he stressed.

The finance minister also directed to review the entire supply chain from farmer to end-consumer for minimising difference between wholesale and retail prices for basic commodities with a view to ensure that farmer is paid well and consumer gets the maximum relief.

During the meeting, Shaukat Fayyaz Ahmed Tarin sought briefing from the representatives of the provincial governments regarding efficacy of Ramazan Saasta Bazaars which have been setup to provide maximum relief to the masses during the holy month. The provincial administrations reported that by and large, the response has been very encouraging as people were making regular purchases and taking benefit of reduced prices of basic commodities.

The finance minister urged the respective provincial administrations to chalk out a firm plan for strict monitoring of prices and availability of stock of basic commodities at Ramazan Saasta Bazaars to facilitate general public in Eid shopping which largely takes place during the last week of Ramazan. He further directed the provincial governments to keep the prices of basic commodities in check during the Eid holidays.

Managing Director, Utility Stores Corporation of Pakistan (USC) updated the NPMC that all basic commodities are well-stocked across the chain of USC outlets including wheat flour, sugar, ghee and pulses (at subsidised prices) in compliance with the directives of the prime minister.  He further informed that maximum buying across USC outlets takes place during the second half of the day. He requested the general public to visit Utility Stores outlets during morning hours to avoid large queues.

The finance minister stressed the need to ensure availability of basic commodities at USCs throughout the country and urged people to benefit from the mobile utility stores facility amid Covid-19 pandemic.

Advisor to the Prime Minister on Commerce Abdul Razak Dawood, Special Assistant to the Prime Minister on Revenue Dr Waqar Masood, Secretary Finance Division, Secretary M/o National Food Security and Research, Secretary M/o Planning, Development and Special Initiatives, Joint Secretary M/o Industries and Production, MD Utility Stores Corporation, senior representatives of the provincial governments, Member PBS and other senior officials of Finance Division participated in the meeting.

Article source: https://nation.com.pk/27-Apr-2021/provincial-authorities-asked-to-timely-procure-wheat-sugar-for-controlling-commodities-prices