Federal Minister for Finance Ishaq Dar yesterday expressed concern over rise in prices of pulses and dairy products in the country despite declining trend in prices globally.
“The prices of dairy products are declining globally, but the impact is not being reflected in the domestic prices,” the minister said while chairing a meeting of the National Price Monitoring Committee (NPMC).
The meeting reviewed the impact of falling oil prices on domestic products as well as transport fares so that the trickledown effect reaches the common man.
The minister directed the food security and research department to devise a viable plan to overcome the gap in production and consumption of pluses and other minor crops by taking all stakeholders on board, so that price stability and smooth supply could be ensured.
The minister directed that a sub-committee, comprising ministries of food security, industries and production, commerce, finance and other concerned departments, be constituted to develop an action plan, which should not only suggest measures for removing shortages, but should contribute to stability in prices of pulses and other minor crops.
He emphasised that this work should be taken in hand immediately and a report be submitted within 10 days.
Dar further emphasised that Competition Commission of Pakistan (CCP) should gear up its efforts to control hoarding, profiteering, breaking cartelisation and to take corrective measures so that benefits of decline in oil and other commodity prices could be passed on to general consumers.
He also emphasised for expediting the process of executive magistracy system.
The Ministry of Inter Provincial Coordination (IPC) informed that as directed by the Council of Common Interests, all provinces have become party to the petition being heard in Supreme Court.
