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Meeting of National Price Monitoring Committee held

Islamabad: A meeting of the National Price Monitoring Committee was held under the chairmanship of Secretary Finance which was attended by the representatives from the Provincial government, Planning and Development Division, Ministry of Industries, Commerce, Animal Quarantine Department, Federal Board of Revenue, Federal Bureau of Statistics, Islamabad Capital Territory and Trading Corporation of Pakistan. The meeting reviewed the prices of essential baskets items including tomato, potato, onion, garlic, chicken, meat, mutton, wheat flour, sugar etc.

It was noted that out of 53 items, prices of 21 items increased while prices of 10 items decreased whereas prices of 22 items remained unchanged on the week ended on 13thOctober, 2011. Items including onion, potato, beef, mutton, red chillies registered increase in their prices.

The committee observed that different prices are charged for single item. Although the floods/rains effects in Sindh province has disrupted the supply chain but in order to maintain the supply chain there is continuous supply of onion, tomato, potato from the neighbouring countries, but the prices of these items need to be monitored regularly. The provincial representative were requested to expand extra efforts in regulating the prices through price control committees and ensuring better coordination among different departments of the provinces. The committee selected 28 items for regular price monitoring by the provincial government who will report to NPMC regularly.

The committee extensively reviewed the rising trend in the prices of meat and mutton. The committee was informed that there was no fresh exportable surplus for exports announced since May, 2011, smuggling of livestock animal is taking place which is exerting pressure on the prices. The committee developed a consensus that the procedure of export of livestock should be properly streamlined as well as exportable surplus assessment be made and only those be allowed to export who have valid export license based on demand specifically mentioning the details and route of the export as well as meeting Quarantine SOPS.

The international food and fuel prices were also reviewed and committee noted that there is a decreasing trend in the prices of sugar, wheat, tea, palm oil and soybean oil since July 2011 to September 2011 by 5.5, 8.3, 7.4, 1.8, and 2.8 percent respectively, which may bring some respite in the domestic prices. The committee also reviewed the stock position of sugar and expressed satisfaction, as these were sufficient for until the next crushing season.

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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
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