Tarin asks the ministry to build up strategic sugar reserves

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ISLAMABAD: Advisor to the Prime Minister for Finance and Revenues, Shaukat Tarin on Wednesday asked the Ministry of Industry and Production to take appropriate measures to create strategic reserves of sugar for a regular supply in the coming months.

He said this while chairing the meeting of the National Price Monitoring Committee (NPMC) to review the prices of everyday commodities and essential food items in the country.

The Secretary of Finance, Secretary of Industries and Production, MD Utility Stores Corporation, Provincial Chief Secretaries, Chief Statistician PBS and other senior officials attended the meeting.

The finance secretary informed the meeting of the weekly situation of the SPI of 1.07% during the week under review. The meeting was informed that the prices of wheat flour bags have remained constant at Rs 1,100 per 20 kg, sugar prices are falling in Punjab and KP.

New stocks of sugar are entering the market, which will further lower prices.

Tarin urges provinces to lift stocks of imported sugar

While reviewing edible oil prices, the NMPC noted that the increase in edible oil prices in the world market has affected local prices.

The meeting was informed that international palm oil / soybean prices would start to decline from January.

Regarding the state of fertilizer stocks, it was indicated at the meeting that the governments of Punjab and Sindh have taken measures against the grabbers with the establishment of control rooms by the government of Punjab in the districts to monitor the status of fertilizer stocks and take appropriate action on high price complaints.

The adviser called on provincial governments to take punitive action against fertilizer grabbers, avoid shortages and make fertilizers available at controlled rates in all provinces.

Tarin ordered the Ministry of Industry and Production to initiate a whistleblower law against hoarders and implement it as a matter of priority.

PM orders all stock of sugar to be sold on the market

While observing the position of kerosene stocks in the country, the advisor asked the Petroleum Division to take steps to ensure the availability of sufficient stocks of kerosene in the market to support the lower segment of society.

The NPMC observed that the Sastaa and Sahulat bazaars in Punjab, the KP, offer essential goods at subsidized prices.

He expressed his satisfaction with the commodity prices in Sastaa bazaars in Balochistan and Sindh, and further ordered to establish such bazaars in more cities to bring maximum relief to the people.

Copyright Business Recorder, 2021

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