NPMC reviews prices of essential commodities

NPMC reviews prices of essential commodities

Business

NPMC reviews prices of essential commodities

ISLAMABAD (Dunya News) – Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal on Thursday directed the concerned stakeholders to ensure the smooth supply of essential commodities in local markets and there should be no speculations to disturb the market.

The minister issued these directions while chairing a meeting of National Price Monitoring Committee (NPMC). The meeting to reviewed the progress on supply of different essential commodities after recent flash floods in the country.

The meeting was attended by the Chief Economist, Chief Secretary Punjab, representatives from FBR, PBS and Ministry of Food Security and Industries.  It is noted that in order to ensure the supply of edibles commodities and to maintain their prices after the floods in the country, the Ministry of Planning Commission took a lead while activating the NPMC last week.

On a weekly basis, the NPMC reviews prices of essential items and ensuring that there should be no speculation over the hike of prices in the market and distribution of essential commodities should not be delayed.

The minister directed the concerned stakeholders to take stern action against the responsible who are involved in hoarding in the market. The minister also directed the chief secretaries of all provinces to ensure that there should be no hoarding of essential items particularly wheat.

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 National Food Security 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 National Food Security and Industries to engage Palm Oil manufactures 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 AJK, GB and State Bank of Pakistan.