Weekly inflation recorded 1.07pc increase: NPMC told

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Wednesday presided over the National Price Monitoring Committee (NPMC) meeting at the finance division.

National Price Monitoring Committee reviewed the prices of daily use commodities and essential food items in the country.

The secretary finance briefed the NPMC about the weekly SPI situation which has been increased by 1.07% during the week under review.

While reviewing the price trend of essential commodities, the secretary finance apprised that prices of 10 essential commodities registered decline prices of 14 items remained stable during the last week. The prices of essential commodities Onion, Potatoes, Cooking Oil registered a significant decline as compared to same period last year, he added.

The secretary further updated NPMC that the prices of the wheat flour bags remained consistent at Rs. 1100 per 20 kg due to the proactive measures of the Punjab, KP Governments and ICT administration.

The advisor expressed satisfaction over the stability in the sugar prices and stressed the Ministry of Industries and Production to take appropriate measures for creating strategic reserves of the sugar in the country for a smooth supply of sugar in the coming months.

On stock position of fertilizers, it was informed that Punjab and Sindh governments have taken actions against the hoarders.

Punjab government had established control rooms in districts to monitor the stock position of fertilizers and appropriate actions are being taken on complaints against high prices, it added.

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Shaukat Tarin directed the provincial governments to take punitive actions against Fertilizer’s hoarders, prevent the shortage and make availability of fertilizers at controlled rates in all the provinces.

Tarin commended the efforts of the Government of the Punjab, KP and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars.

The meeting was attended by secretary finance, secretary Industries & Production, MD Utility Stores Corporation, Provincial chief secretaries, Chief Statistician PBS and other senior officers.