Provincial authorities asked to check undue profit margins

ISLAMABAD: The National Price Monitoring Committee (NPMC) on Monday asked the provincial governments to reduce price disparity in essential food items on sale in local markets.

NPMC meeting was held under the chairmanship of special finance secretary to discuss the price trend of essential food items. The meeting was attended by representatives from the provincial governments, Islamabad Capital Territory (ICT), ministries of industries, commerce, law and justice, planning, development and special initiatives, food security, interprovincial coordination along with Competition Commission of Pakistan and Pakistan Bureau of Statistics (PBS).

The meeting was told that profit margin between wholesale and retail is huge in items like apples, bananas, gram pulse, mash pulse, masoor pulse, garlic, tomatoes, and onions. Provincial governments and ICT were asked to take corrective measures to check undue profit margin.

The PBS was directed to share the detail of provincial markets to provincial and Islamabad administrations to prompt action against profiteers. The ministry of interprovincial coordination was directed to coordinate to ensure relief for consumers and minimum margins.

The provincial governments were asked to provide information related to flood damages of minor and major crops to the ministry of food security and research to preempt any shortages.

Ministries of industries and commerce were directed to take prompt actions and provide necessary support to facilitate the import of essential food items. Food security ministry was directed to keep an eye on the supply and demand of pulses and vegetables including tomatoes, potatoes and onion and take necessary measure such as timely import for the smooth availability of foods. The meeting emphasised the provision of essential commodities at affordable prices. Provinces were asked to take action against hoarding, adulteration, smuggling, undue profiteering and to ensure uninterrupted supply of daily use items to masses at lower prices.

It was said the federal government would provide all possible cooperation for stability of prices in the country. The Utility Store Corporation was also instructed to ensure control on the quality of daily use items in their all outlets.

Provincial governments and ICT informed that they are regularly monitoring the prices and taking action against hoarding and undue profiteering. Government in consultation with all stakeholders is taking measures to control the general price level of daily use items at federal, provincial and district levels.

The committee also discussed the price movements of essential items among the provinces/ICT and observed variations in price level. It was decided that all provincial governments and ICT administration will take proactive measures to control the undue price hike of essential items.