Tarin for steps to bring down prices

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Monday asked relevant stakeholders to adopt a comprehensive policy for minimising the price gap between growers and retailers.

Chairing the National Price Monitoring Committee (NPMC) meeting on Monday, Mr Tarin said the committee will have to play a proactive role in minimising this gap. “This reduction in gap will significantly lower the prices of essential commodities for end users,” the minister said. The difference between wholesale and retail prices of essential items is not only huge but also varies across different cities which require thorough analysis, he noted.

“The Pakistan Bureau of Statistics (PBS) is an independent entity. However, a committee with Special Assis­tant on Finance and Revenue Dr Waqar Masood Khan as chairman and consisting of representatives from all stakeholders including representatives from provinces should engage with the PBS to work out further perfection in data collection mechanism wherever required,” he added.

The minister briefed the participants that Prime Minister Imran Khan is determined to bring ease in the lives of the poor in Pakistan and a multi-pronged approach is being followed for this purpose.

The NPMC is a forum which is actively monitoring the prices of essential items and ensuring smooth supply, the minister said. During the meeting, Finance Secretary Yusuf Khan briefed that the weekly Sen­sitive Price Index (SPI) decreased by 0.59 per cent during the last week.