ISLAMABAD: The National Price Monitoring Committee (NPMC) has noted that Sensitive Price Indicator (SPI) which monitors the prices of 53 items based on the survey of 17 cities and 53 markets experiencing a downward trend during the last four consecutive weeks.
The meeting of the Committee was held here under the Chairmanship of Secretary Finance, which was attended by the representatives from the Provinces of Punjab, Sindh, Khyber Pakhthunkhwa, Balochistan and Ministry of Planning and Development, Ministry of Industries, Ministry of Commerce, Federal Bureau of Statistics, Competition Commission of Pakistan, Food Security and Cabinet Division.
The meeting reviewed the prices and supply trend of essential food items. The SPI of the week ended on 8th December witnessed 0.14 percent change over previous week and 5.24 percent change over corresponding week of 2010-11.
Decrease in the prices of sugar by 5.36 percent, onion 5.24 percent, chicken farm 2.03 percent, garlic 1.30 percent, rice irri-6 1.07 percent, rice basmati broken 0.23 percent red chillies 0.27 percent was noted.
It was also observed that there are significant differences in prices of vegetables such as potatoes, tomatoes, onions and garlic among the provinces.
Such as prices of tomatoes in Punjab is Rs.50 per kg, KPK Rs.24-48 per kg, Sindh Rs.60 per kg, Balochistan Rs. 60-65 per kg. Potatoes in Punjab are Rs.34 per kg, KPK Rs.20-30 per kg, Sindh Rs.15 per kg, Balochistan Rs.20-23 per kg.
Onion in Punjab is Rs.41 per kg, KPK Rs.44 per kg, Sindh and Balochistan Rs.30 per kg. Garlic in Punjab is Rs.104 per kg, KPK Rs.100-120 per kg, Sindh Rs.80 per kg and Balochistan Rs.110-120 per kg.
The meeting also compared regional prices which suggested that in Pakistan the prices of gram pulse, sugar, beef, and chicken farm are lower than India, Bangladesh, Colombo, and Kabul; while prices of wheat floor, rice, mutton, garlic, tomatoes, potatoes, red chilies and tea are higher.
The committee also observed declining trend of international food prices and noted that during July - November, 2011 the prices of sugar, wheat, tea, palm oil, soybean oil have declined by 14.9, 8.5, 10.6, 3.2 and 9 percent, respectively which may bring some respite in domestic prices.
The Chairman advised the concerned authorities to keep record of imports of essential food items and monitor their demand and supply to address any shock in the market prices and also instructed the provincial governments and other stakeholders to strengthen the institutional arrangements and collaboration with their Statistical Departments in price monitoring.
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