ISLAMABAD, (UrduPoint / Pakistan Point News – 21st Feb, 2025) Federal Minister for Planning, Prof Ahsan Iqbal Friday chaired a meeting to review the existing federal and provincial price control mechanism and to monitor the essential commodity prices in Ramazan and Eid.
The meeting was organized by Chief Money Price and Fiscal Policy Dr. Hassan Mohsin, while it was attended by Secretary Planning, Awais Manzoor Sumra, Dr. Naeem-ul-Zafar Chief Statistician PBS, along his team, Joint Chief Economist, representatives of the Ministry of national food, policy and research, ministry of industry and production, Utility stores corporation, chief secretaries,/additional chief secretaries and their teams, said a press release.
During the meeting, representatives from provincial governments provided detailed briefings on the arrangements being made at the provincial level.
Ahsan Iqbal emphasized the need for a coordinated and effective strategy to control the prices of essential goods during Ramazan and Eid.
He further stated that while an increase in demand for goods in Ramazan and Eid was expected, unjustified price hike every year was unacceptable.
He directed that supply and demand should be managed proactively and efficiently during these periods.
The Ministry of Food briefed the meeting on Ramazan-related arrangements, mentioning that the supply and price situation of essential items during Ramazan was expected to remain stable. The meeting was informed that the potato harvest in Punjab had been bumper, leading to a significant drop in prices in recent weeks.
The prices of onions and tomatoes were also stable, and sugar supply was normal. The Ministry of Industry is taking additional steps in this regard. The meeting also noted the impact of global price increases on cooking oil, but there were no issues with its availability.
Demand for pulses, chicken, and dates typically increases during Ramazan, but arrangements for their supply have been completed. The harvest of dates and bananas has been particularly good, ensuring these items will be abundantly available during Ramazan.
Dr. Naeem-ul-Zafar, Chief Statistician of the Pakistan Bureau of Statistics, informed the meeting that the Bureau was providing comprehensive data on prices and inflation through decision support system, enabling them to make informed decisions.
He highlighted that the reduction in inflation was not just reflected in percentage terms but had also resulted in a noticeable decrease in actual prices level.
According to the Bureau’s report, the price of a 20-kilogram flour bag had significantly decreased from 2,812 rupees in January 2023 to 1,736 rupees in January 2024 vice versa.
All provinces provided updates on their arrangements for Ramadan. The Punjab government announced the “Nigahban Ramzan Package,” worth 30 billion rupees, which would establish 52 utility markets where 16 essential commodities would be available at discounted rates.
Overall 67 model bazaars are being set up, and district committees are holding regular meetings to monitor prices of essential items. Khyber Pakhtunkhwa has activated price control teams, while Balochistan mobilized market committees to control price hikes.
Minister Ahsan Iqbal emphasized the need for special attention to both Ramazan and Eid to ensure no disruption in supply or delays.
He directed that the price difference between wholesale and retail prices should be eliminated, and an effective strategy should be implemented to prevent hoarding.
