Islamabad, October 13, 2021 (PPI-OT): Federal Minister for National Food Security and Research Syed Fakhar Imam presided over the meeting of the National Price Monitoring Committee (NPMC), held at the Finance Division. Economic Adviser Finance Division briefed the NPMC about the increase in weekly SPI by 1.21% as compared to consecutive decline over last two weeks.
Prices of 21 items remained stable whereas 08 items registered a decline during the week under review. While taking stock of the situation, the NPMC observed that price of 20 kg bag of wheat flour was Rs.1100 in Punjab and Islamabad Capital Territory due to daily release of wheat at Government specified price. However, the prices of wheat flour bag in Karachi, Quetta and Peshawar were in the range between 1300-1460 per bag.
The NPMC took strict notice of the price differential and urged the Provincial governments of Sindh, KP and Baluchistan to initiate daily releases on top priority. The Secretary Food, Government of Sindh informed NPMC that Government of Sindh will start daily release of wheat at the Government notified price w.e.f. 16 October, 2021.
The NPMC commended the Provincial government of Punjab and Islamabad Capital Territory (ICT) administration for daily release of wheat which has stabilized the prices of wheat flour bag. The Federal Minister for Food Security stressed upon the need to start daily release of wheat at the Government notified price to ease pressure on prices of wheat flour throughout the country.
The Secretary M/o NFS and R briefed the NPMC about sufficient availability of stock of wheat with the Provinces and PASSCO. The Secretary, M/o Industries and Production briefed the NPMC about start of voluntary crushing of the sugarcane in some districts of Sindh by 25th October 2021.
He also updated the Committee about the priority of the Government to begin sugarcane crushing by first week of November, 2021in the Punjab province. The sugarcane production is expected to be in greater quantity as compared to the last year.
Moreover, the imported sugar is being provided to Sasta Sahulat Bazaars and Utility Stores Corporation at subsidized price of at Rs. 90 per kg in order to provide relief to the consumers. The early crushing of sugarcane will further reduce the prices of sugar in local markets, he added. The Committee was briefed about the continuous fluctuations in the international prices of Palm and Soya bean oils.
The FBR has worked out an arrangement with all relevant stakeholders and a firmed up proposal will be submitted before the Cabinet to reduce duty on import of edible oil which will reduce the prices of ghee in local markets. The Secretary NFS and R informed about the increase in prices of chicken due to seasonal factor.
The opening of Restaurants and Banquet Halls have pushed the demand for increased consumption of chicken and prices will be streamlined with improved supply in few weeks. Among others, SAPM for Food Security Mr. Jamshed Cheema, Secretary M/o NFS and R, Economic Advisor Finance Division, Additional Secretary M/o Industries and Production, Additional Secretary Commerce, Deputy Commissioner Islamabad Capital Territory (ICT), Member PBS, representatives of Provincial Food Departments and other senior officers participated in the meeting.
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