ISLAMABAD - National Price Monitoring Committee (NPMC) on Monday has expressed satisfaction that prices of essential items getting down. 

Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh chaired a meeting of National Price Monitoring Committee (NPMC) at the Finance Division to discuss the prices and supply position of essential food items. The Finance Secretary while presenting the price trend of essential commodities informed that according to latest SPI released by PBS there is a decline in the prices of 13 essential commodities, for instance, wheat flour, sugar, onions, tomatoes and potatoes. The prices of 17 commodities have increased slightly whereas the cost of 21 items remained stable. The Committee was also informed that the profit margin between the prices of wholesale and retail consumers is also coming down. 

The Chair held detailed discussions with the Provincial Chief Secretaries regarding the position of wheat in the provinces and it was informed that at present sufficient quantities are available to meet existing demand. Further, the prices of perishable items as well as wheat and sugar are showing a downward trend due to the improvement in their supply position and pricing mechanism. The Committee expressed satisfaction that prices of essential items getting down. 

Prices of 13 essential commodities decreased, 17 commodities increased and 21 items remained stable

The Chair directed the MoNFSR to conduct an emergency meeting with TCP, Maritimes, KPT and other stakeholders to review the implementation of the schedule regarding offloading of wheat vessels as decided by the logistic committee. He further advised the Provincial governments to strictly monitor the prices of Chicken and ensure smooth supply to minimise the demand-supply gap. Ministry of Industries & Production was also directed to take necessary measures to control the rising prices of edible oil. It is worth mentioning here that inflation had eased to 8.3 per cent in November, from 8.9 per cent in October on the back of a slight decline in the price of perishable products. A slight deceleration in inflation was noticed for the second consecutive month although prices of essential food items are still on an upward trajectory. The inflation is expected to recede further with the arrival of new crops of vegetables, sugar crushing season, and a marginal decline in the petroleum prices. 

The meeting was attended by Minister Industries & Production, Special Assistant to the Prime Minister on Revenue, Provincial Chief Secretaries, Secretary NFS&R, Secretary Industries & Production, Chairman FBR, Chairperson CCP, Executive Director Commerce, Chairman TCP, Manager Coordination Utility Store Corporation (USC), Member PBS, Deputy Commissioner ICT Administration and senior officers of Finance Division.