NPMC for ensuring smooth supply of wheat at affordable prices.

ISLAMABAD -- National Price Monitoring Committee (NPMC) on Wednesday directed the provincial chief secretaries to resume daily release of wheat at the price of Rs1950 per 40kg determined by the federal government to ensure smooth supply of wheat at affordable prices across the country.

Federal Minister for Finance and Revenue, Shaukat Tarin presided over the National Price Monitoring Committee (NPMC) meeting held at the Finance Division. The secretary finance briefed the participants that upsurge in international food prices is affecting the domestic prices as Pakistan is a net importer of staple food items namely wheat, sugar, ghee etc. The international price hike is due to fall in global food production and high consumption demand coupled with supply chain disruptions due to COVID-19 pandemic.

While reviewing the prevailing ghee prices, the finance minister directed chairman FBR to work out a strategy to ensure measurable impact on prices of ghee/edible oil in domestic markets. The volatile prices of edible oil in international market have pushed up the local prices of ghee/vegetable in the country. There is a need to have a sliding scale to link up prices of ghee in local markets with international markets, he added.

While taking stock of the weekly calculation of SPI, the finance minister urged member PBS to review its methodology and extend coverage by including foot print of Saasta/Itwar Bazaars in mainstream cities where upward pressure on prices of food items is absorbed through provision of food items at subsidized rates. At present, the significant price differential between wholesale and retail prices in Saasta Sahulat Bazaars is not covered by PBS.

The NPMC directed the provincial chief secretaries to resume daily release of wheat at the price determined by the federal government to ensure smooth supply of wheat at affordable prices across the country. The release price for wheat is Rs.1950 per 40kg.

Secretary M/o...