ISLAMABAD: National Price Monitoring Committee (NPMC) met here nowadays to take stock of supply and prices of food and pharmaceutical items.The assembly was chaired by Finance Minister Asad Umar and attended by relevant federal ministries and provincial departments.
The assembly reviewed prices of perishable and non-perishable food items, specificly 28 essential kitchen items.
The committee was informed that volatility in the prices of perishable items specifically tomatoes, onions, grams and pulses was primarily due to seasonal variations which has now subsided.
The Sensitive Price Indicator (SPI), which monitors mostly kitchen items for final two consecutive weeks in March 2019, is showing a sharp declining trend which proposes that the prices of these items in the market are on a downward trajectory.
The assembly decided that a strong forecasting mechanism shall be put in place to endegree availability of essential food items for the coming 3 nsprint; 6 months in refer toation with the provincial governments.
A monthly assembly of NPMC shall be held regularly to review supply and prices of all commodities and timely degrees shall be put in place to avoid any shortage in the country.
Finance Minister directed that market committees may be made more proactive to play a vigilant role in effectively monitoring prices and check any hoarding across the country.
It was also agreed to reduce price disparity among the provinces through an integrated market mechanism.
NPMC decided that laws would be reviewed to endegree that price control mechanism proactively focuses on cartelization, hoarding and undue profiteering.
The assembly reviewed the availability of commodities with specific reference to Ramzan.
The Utility Store Corporation guaranteed NPMC that Government Ramzan Package shall be implemented to endegree sufficient availability of commodities at affordable prices.
The assembly agreed that Susta bazaars, Itwar bazaars and fair price shops shall be increased throughout the country to endegree sufficient availability of commodities for common man at affordable prices.
The Prime Minister shall chair a assembly to further review the supply and prices of food and pharmaceuticals in the country on Monday 8thApril 2019.
The concerned ministries shall submit short and medium term policy recommendations as well as structural degrees needed to endegree smooth supply and stability in the prices to the Prime Minister.TheIndianSubcontinent has not verified the content of the source.
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