The National Price Monitoring Committee held its 12th meeting on 26th March, 2012 in Finance Division

Islamabad: Under the Chairmanship of Special Secretary Finance, which was attended by the representatives from the Provinces of Punjab, Baluchistan, Khyber Pukhktunkhwa, Islamabad Capital Territory, and Ministry of Planning and Development, Ministry of Industries, Ministry of Commerce, Food Security Division, Interior Division, Cabinet Division, Pakistan Bureau of Statistics and Federal Board of Revenue?

The meeting reviewed the Consumer Price Index (CPI), Food, Non-Food, Core, Wholesale Price index (WPI) and Sensitive Price Index (SPI) to measures the changes in prices. The SPI recorded an increase of 0.28 percent of the week ended on 15th March, 2012.

It was observed that out of 53 items, prices of 25 items registered increase while prices of 05 items decreased and prices of 23 items remain unchanged as compared to last week ended on 8-3-2012, where prices of 31 items increased, prices of 07 items decreased and prices of 15 items remain unchanged.

The prices which registered increase were Tomatoes by 28.79 percent, Rice (Basmati) broken 2.93 percent, Gram Pulse 1.55 percent, Sugar 0.92 percent, Vegetable Ghee (Loose) 0.74 percent, Wheat Flour 0.67 percent and Mash Pulse 0.30 percent.

The items which recorded decrease in their prices were Garlic 3.93 percent, Chicken Farm 3.34 percent, Egg (Farm) 2.94 percent, Onion 1.50 percent and Potatoes 0.76 percent. While prices of Mutton, Milk Powdered NIDO, Cooking Oil (Tin), Vegetable Ghee (Tin), Electric Charges, Gas Charges up to 100M³, Petrol, Diesel and Kerosene remain unchanged. It was also observed that in comparison with the regional countries, Pakistan is the lowest in prices of Wheat, Wheat Flour, Rice, Sugar, Chicken Farm and 2nd lowest in Beef, Garlic and Petrol while prices of Pulses, Mutton, Eggs, Potatoes, Red Chillies, Onion, Diesel, Tea and Urea are higher in Pakistan.

The committee reviewed the price trend of 28 selected items among the Provinces. Some variations in the prices of Wheat, Rice Basmati Broken, Rice Irri-6, Pulses, Beef, Mutton, Egg, Milk Fresh, Milk Powdered, Ghee, Onions, Tomatoes and Garlic were observed.

It was noted that in most items prices in Baluchistan are higher as compared to other Provinces. The chair emphasized for market intelligence between the provinces and on this score Food Security Division to bring a workable plan in consultation with the provinces for sharing the market intelligence in order to address the prices disparities among the provinces.

The chair also took note of increase in prices of beef and mutton and to this aspect emphasized the control of livestock smuggling to neighbouring countries that while issuing the export license the route and quantity should be identify and to ensure satiability. Ministry of Food Security will suggest measure in consultation with FBR and Ministry of Interior to address the issue of illegal export of livestock.

The chair also endorsed the suggestions of the meeting for establishing more storages facilities by the provincial governments in order to minimize the wastage of perishable food items as well as expediting the revival of Palm Oil Development Projects to save foreign exchange on import of edible oil from abroad

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