Provinces asked to streamline wheat supply

ISLAMABAD-Federal Minister for Finance & Revenue Dr Abdul Hafeez Sheikh on Monday has directed the provincial governments to follow a self-sustaining model and streamline the daily release of wheat to ensure a steady supply in the provinces as well as districts.

He made these remarks while chairing the meeting of the National Price Monitoring Committee (NPMC). The NPMC reviewed the price trend of essential commodities especially wheat, sugar and edible oil during the week. Finance Secretary briefed the meeting that weekly SPI registered a decline of 0.22 per cent and the main drivers behind the decrease in SPI are falling prices of eggs, tomatoes, potatoes, onions and chicken. Prices of 21 basic items remained stable whereas 7 items registered a decline during the week.

Ministry of National Food Security & Research (MoNFSR) apprised NPMC that all stakeholders are on board regarding the existing position of wheat stock in the country. Federal Minister for National Food Security and Research assured all possible measures would be taken to ensure smooth supply of wheat across the country. Federal Minister for Industries and Production Hammad Azhar updated NPMC about the recent decline in international prices of palm oil which will eventually reduce the upward pressure on the prices of edible oil in the domestic market. The Finance Minister directed the Ministry of Industries and Production to continuously monitor stocks of sugar, its supply position in the market and prices throughout the country for the consumers.

Member PBS updated NPMC about the benefits of a recently developed dashboard of prices of essential items and progress on its implementation in coordination with the provinces. NPMC directed PBS to provide the necessary support to the provinces to make the system fully functional for vigilant monitoring of prices of essential commodities and to remove price disparity across the country. The Finance Minister directed the MoNFSR to chalk out a comprehensive strategy to ensure a smooth supply of wheat flour at reasonable rates for the general public. He also urged the Provincial governments to continue taking necessary steps to ensure the provision of basic items at affordable prices across the country.