Adviser tasks provinces to immediately tame prices

ISLAMABAD: Adviser to Prime Minister on Finance Hafeez Shaikh took the provincial governments to task in a meeting on Monday, emphasising proactive steps to control price hike and measures to overcome price disparity.

Shaikh asked provincial governments and all other concerned authorities to take immediate proactive measures to control increase in prices. He urged the representatives of the provincial governments to ‘strictly’ monitor the difference between retail and wholesale prices in various commodities to ensure availability of the essential items for the consumers at affordable price.

The adviser was addressing a meeting of the National Price Monitoring Committee to review the price trend of the essential commodities, including wheat flour, sugar, tomatoes, onions, vegetable ghee, potatoes and chicken on weekly basis.

Officials from Sindh and Punjab said price of sugar will be reduced further due to availability of the local produce in the coming months.

Chief Secretary Sindh said atta and sugar prices have declined in the province, which will further stabilise in coming weeks. Sindh government has established fair price shops to provide relief to public. “However, the chicken prices are slightly increasing and [we] are taking corrective measures accordingly,” a statement quoted him as saying.

Additional Chief Secretary Punjab said prices of tomatoes are fluctuating due to seasonal factors, but they will stabilise in coming weeks. “Prices in the 360 sahulat bazar are low as compared to open market. Government of Punjab is releasing wheat as per policy as a result the atta prices have stabilised.”

Chief Secretary Khyber Pakhtunkhwa said the government is releasing 5,000 tons wheat daily and the prices of wheat flour bag have come down Rs20 to Rs30 in the market. “Local production of tomatoes in has started coming in the market. In coming weeks the supply of tomatoes is expected to increase significantly which will bring major decline in the price.”

The finance secretary said there is decline in the prices of wheat flour, sugar, onions while the prices of tomatoes, potatoes and chicken have slightly increased according to the latest sensitive price indicator of the Pakistan Bureau of Statistics. Prices of vegetable ghee have remained unchanged. The committee was also informed about the price variation among the provinces and the profit margin between wholesale and the retail. NPMC was told by managing director Utility Stores Corporation and provincial chief secretaries that sufficient stocks of sugar and wheat are available across the country.