Prices of essential items reviewedArchive
ISLAMABAD: Finance Minister Ishaq Dar on Monday directed the Ministry of National Food Security and Research to monitor export of potato to keep its domestic prices stable.
He was chairing a meeting of the National Price Monitoring Committee to review movement of essential items’ rates.
The meeting observed that prices of wheat, wheat flour, chicken, eggs, bananas, potatoes, tomatoes, rice, cooking oil, vegetable ghee have decreased as compared to last year while prices of milk powder, onion, red chillies, garlic, beef, mutton and pulses increased.
The committee also noted increasing trend in some products, such as pulses (moong, mash, and masoor) and garlic and directed Ministry of National Food Security and Research to closely monitor prices of these items and take measures to bring them down.
Dar observed that prices of most of essential items, like rice (basmati broken), rice Irri, mutton, mustard oil, banana, masoor pulse, gram pulse, potatoes, tomatoes and garlic are very high in Islamabad as compared to provinces. He directed the Islamabad administration to take appropriate measures to check and control the price disparity.
The minister expressed concern over the delay in import of gram pulse by the Trading Corporation of Pakistan (TCP) and the Ministry of Commerce to expedite the process to arrest the price increase.
The meeting was informed that the Consumer Price Index (CPI) increased by 1.6 per cent in October 2015 as compared to 5.8pc in October 2014. Food inflation on a year-on-year (YoY) basis increased by 0.5pc and non- food inflation increased by 2.4pc as compared to 5.2pc and 6.3pc, respectively.
On a month-on-month (MoM) basis, it increased by 0.4pc and 0.5pc, respectively.
Sensitive Price Index (SPI) inflation on YoY basis recorded a decline of 0.1pc in October 2015 as compared to increase of 4.1pc in October 2014.
It increased by 1.2pc in October 2015 as compared to decline of 0.03pc in October 2014.
Wholesale Price Index (WPI) inflation on YoY basis declined by 2.7pc in October 2015 as compared to increase of 1.3pc in October 2014.
Published in Dawn, December 1st, 2015