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Print Print 2022-01-13

Rising rates of pulses perturb Tarin: ‘Keep your finger on the pulse’

  • Finance minister directs the Ministry of National Food Security and Research to build strategic reserves of pulses
Published January 13, 2022

ISLAMABAD: Finance Minister Shaukat Tarin has expressed concerns over increase in the price of pulses and sought information on production trend of pulses in the world, besides directing establishing strategic reserves of pulses.

At a weekly meeting of the National Price Monitoring Committee (NPMC) to review the prices of essential commodities, finance minister also directed the Ministry of National Food Security and Research to build strategic reserves of pulses while considering the lowest price of pulses in the international market.

Tarin also directed Ministry of Food Security and Research and provincial governments to take measures to ensure smooth supply of pulses at fair prices.

Pulses, rice, eggs, chicken: Hike in prices blamed on seasonal factors

The meeting was given a presentation by the Economic Adviser Finance Division on weekly SPI, and NPMC was informed that prices of 22 items remained stable and price of 25 other items registered increase which contributed to an increase in the SPI by 0.54%. The prices of potatoes were increased by 0.03%, prices of chicken 0.12%, petrol 0.21% and others by 0.18%.

The meeting was informed that the prices of tomatoes and onions last week were at the lowest as compared to their prices three years earlier. NPMC was updated on the stability in prices of wheat with availability of sufficient stocks of wheat in the country.

NPMC was briefed on the sugar prices and its stock position in the country and it expressed concerns at the slight increase in sugar prices in various cities. The meeting was informed that the slight increase in price was due to disruption in the supply caused by rain and fog.

Tarin for keeping a close eye on lentil rates

NPMC was also apprised of the variations in the price of pulses and it was informed that except the price of moong pulse, there was an increase in the prices of other pulses and it was mainly due to exchange rate variations and increase in freight charges. Further, arrival of local production of gram pulse in near future will ease its price.

The NPMC was briefed on the availability of essential goods at subsidized rates at the Sastaa & sahulat bazaars across the country.

Finance Minister underscored the efforts being made to keep the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country.

Copyright Business Recorder, 2022

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