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Finance Minister directs necessary measures for bringing back prices of potatos

Islamabad, April 21, 2014 (PPI-OT): Federal Minister for Finance Senator Ishaq Dar chaired a meeting at the Finance Ministry today to review agricultural products prices in the country and took cognizance of the manipulated prices of potato Rs. 50 per kilogram in the local market.

In his 2nd meeting in the last three days over the prices of the agricultural products, the Finance Minister was informed through an in-depth briefing by the concerned officials about the production, supply, consumption and storage chain of the Potato.

He was informed that there is almost 1.1 million tons of surplus potato in the Country and the prices of potato are being artificially manipulated at a much higher level by the hoarders, speculators and middlemen. He was informed that in a neighboring country potato is being sold at much less price.

The Finance Minister said that the government is very serious on keeping the prices of the essential commodities at appropriate level and it will take all necessary steps to devise expeditious mechanism to bring down the prices.

The Finance Minister, after listening to the stakeholders decided that if the prices of the potato are not brought to the normal level within a time span of three days (72 hours) then all the taxes and levies on the import of the potatoes will be lifted to bring the prices to a level less than Rs. 30 per kilogram. He concluded that the profiteers will not be allowed to manipulate excess margins by holding supplies to the market.

The meeting was also attended by Sikandar Hayat Khan Bosan, Federal Minister for National Food Security and Research, Dr. Farrukh Javed, Minister of agriculture Punjab, Dr Waqar Masood, Finance Secretary, Seerat Asghar Jaura, Secretary NFS and Reserch, Dr. Iftikhar Ahmad, Chairman PARC, Rana Assad Amin, Advisor to the Finance Ministry, Shahid Mahmood, Special Assistance to Finance Minister and other senior officials of the Federal and Punjab government.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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