ISLAMABAD: Finance Minister Shaukat Tarin has directed the Balochistan authorities to ensure stability in the prices of wheat flour by maintaining the daily release of wheat to the flour mills.
While presiding over a meeting of the National Price Monitoring Committee (NPMC), the finance minister asked the relevant authorities to analyse and estimate the wheat stocks closely.
Earlier, the NPMC was informed that prices of tomatoes, eggs, hi-speed diesel, petrol super, garlic, moong, masoor, onions, wheat flour bag, sugar, potatoes, maash, gur, and chillies powder had shown a decline in the prices during the last week.
It was informed that prices of onion are lowest as compared to its prices three years earlier.
The NPMC was updated on the wheat flour prices in the country.
The Secretary, Ministry of NFS&R, informed on the stock position of wheat and further apprised on the future requirements and the strategy for sustainable availability of wheat in the country.
The finance minister directed the Balochistan authorities to ensure stability in the prices of wheat flour by maintaining the daily release of wheat to the flour mills.
The finance minister asked the relevant authorities to analyse and estimate the wheat stocks closely.
The NPMC was also apprised of the sugar prices in the country.
Secretary Ministry of I&P briefed the meeting on the process for building strategic reserves of sugar in the country to maintain stability in prices.
The sugar price is at Rs89 again with a decline of -0.3 percent which is highly plausible.
The NPMC was also briefed on the prices of pulses in the country. The NPMC was informed that there was stability in the price of gram pulse, while the price of moong decreased by Rs6 per kg during the last six weeks.
The price of maash was decreased by Rs3 per kg during the last six weeks and price of masoor was decreased by Rs2 per kg during the last six weeks.
It was apprised that prices of eggs decreased by Rs32 per dozen during the last six weeks and overall there is improvement in market supply of eggs, onions, potatoes and tomatoes.
The price of potatoes has decreased by Rs4 per kg during the last six weeks. There has been an increase in the price of chicken due to supply disruptions. These disruptions are linked with a sudden increase in the demand for chicken.
But it was ensured that the prices of chicken will be back to normal price in the near future.
On the prices of palm oil and soybean in the country, the secretary, Ministry of Industries and Production, informed the meeting on available stocks of edible oil.
The finance minister asked for research on alternatives to minimise the dependency on the import of these products and asked for devising a strategic plan for meeting the demand.
The meeting was informed that a sufficient amount of stock of soybean and palm oil are available to meet the rising demand in the country.
The meeting also discussed fertilizer situation and was informed that there is no shortage of fertilizers and urea in the country.
The Ministry of Industries and Production in consultation with the Ministry of NFS&R and provincial governments has been asked to make a plan for the provision of subsidy for DAP to farmers before the upcoming Kharif season.
He directed the Ministry of Commerce to formulate a viable plan for the price determination of potatoes.
The Ministry of NFS&R was directed to expedite the process to formulate forecasting units for major and minor crops for timely decision making.
Copyright Business Recorder, 2022