ISLAMABAD (APP) - Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb here on Thursday underscored that controlling inflation and ensuring price stability was among the top priorities of the government, especially to safeguard vulnerable and low-income households, including those affected by recent floods.
The minister was chairing the second meeting of the Steering Committee for Assessment of Inflationary Trends in Pakistan.
The minister noted that the steering committee had been tasked with closely tracking market developments, coordinating policy responses across federal and provincial levels, and recommending timely administrative measures to contain inflationary pressures and protect the purchasing power of the people.
The Committee carried out a comprehensive review of the entire basket of essential food items, taking stock of the latest changes in the Sensitive Price Index (SPI). The prevailing trends in key commodities such as onions, tomatoes, rice, wheat, sugar, and edible oil were closely examined. The members discussed province- and region-wise supply changes and stock positions, as well as the import situation for certain basic food items.
It was noted that sufficient wheat stocks, excluding strategic reserves, are currently available. Initial assessments suggest that the damage to the rice and sugarcane crop is manageable.
The finance minister stressed the need for strict monitoring and vigilance against market speculation to prevent any artificial price increases.
The committee also reviewed the preparation for the upcoming sowing season, with the committee emphasizing the need for a proactive approach to ensure the timely availability of seeds and other agricultural inputs.
The finance minister directed all relevant institutions, including the National Disaster Management Authority (NDMA), SUPARCO, and Pakistan Bureau of Statistics, to work closely with provincial governments in completing accurate and timely crop damage assessments.