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Business

Web Desk
February 19, 2020

Provinces should accept responsibility of controlling food prices: finance secretary

Business

Web Desk
Wed, Feb 19, 2020

ISLAMABAD: Provinces should accept the responsibility of controlling food prices, said the secretary finance in a meeting of the National Price Monitoring Committee on Wednesday. 

According to sources, the meeting was chaired by Advisor to the Prime Minister on Finance and Revenue Abdul Hafeez Shaikh. The committee was told that inflation increased by 14.6% during the month of January. 

The data of Sensitive Price Index and Consumer Price Index were presented in the meeting which revealed that flour prices in Punjab were the lowest in all the provinces — Rs809 per 20 kilos — while the same quantity was being sold for Rs1058 in Sindh, the highest in Pakistan.

The prices of 13 basic necessities had reduced last week while the rates of 19 items remained stable.

The surge in prices of basic necessities had troubled the masses, participants of the meeting were informed. The provincial governments should accept the responsibility of controlling prices as it is their duty, said secretary finance.

With Ramazan approaching, the provincial and local governments should gear up to control prices, he said.