Essential commodities: Stakeholders told to avoid speculative trading

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal Thursday directed the concerned stakeholders to ensure the distribution of essential commodities among the masses after the recent floods as there should be no speculations to disturb the market.

The minister issued these directions while chairing a National Price Monitoring Committee (NPMC) meeting to review the progress of essential commodities after floods.

The meeting was attended by the Chief Economist, Chief Secretary Punjab, representatives from the Federal Board of Revenue (FBR), the Pakistan Bureau of Statistics (PBS), and the Ministry of Food and Industries.

It is noted that in order to ensure the supply of food edibles and to maintain their prices after the floods in the country, the Ministry of Planning took a lead while activating the NPMC last week. On a weekly basis, the NPMC reviews the prices of essential items.

“There should be no speculation over the hike of prices in the market and distribution of essential commodities should not be delayed at any cost,” said the minister, while directing the concerned stakeholders to take stern action against those hoarding in the market.

Essential commodities: NPMC takes stock of prices

He said, “Chief Secretaries of all the provinces are directed to ensure that there should be no hoarding of essential items particularly, wheat.’’

During the meeting, the minister was informed that after the import of tomatoes and onions the prices have decreased in the market. It was further informed that from next week the prices will further decrease in order to facilitate the masses.

The minister also directed the Ministry of Food and Industries to immediately take the steps to reduce the prices of palm oil. “The results are not seen on the ground after the decrease of palm oil prices results should be seen,” he remarked.

The minister directed the Ministry of Food and Industries to engage palm oil manufacturers and take immediate steps to reduce the prices so relief could be ensured to the common man. The minister also directed the concerned stakeholders to engage the AJK, the GB, and the State Bank of Pakistan.

Copyright Business Recorder, 2022