The Economic Coordination Committee (ECC) on Friday expressed satisfaction over emerging price stability and easing inflationary pressures on essential commodities, following coordinated efforts across federal and provincial levels.
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The meeting, chaired by Finance Minister Muhammad Aurangzeb at the Finance Division, was briefed by the Chief Economist of the Ministry of Planning Development and Special Initiatives on recent economic trends, particularly inflation and price movements.
Officials informed the committee that after a period of volatility, prices of key household items are gradually stabilizing. The National Price Monitoring Committee has played a crucial role in strengthening market surveillance and enabling timely interventions to control price fluctuations.
Data presented during the meeting showed that inflationary pressures are moderating, with recent declines in the Sensitive Price Index reflecting a slowdown in the rate of increase for essential goods. Prices of commodities such as tomatoes, onions, wheat flour, garlic, LPG, and sugar have declined, while items including eggs, chicken, pulses, cooking oil, bread, and milk recorded only marginal increases.
The ECC noted that improved supply chain management, enhanced coordination between federal and provincial authorities, and targeted district-level interventions have contributed to stabilizing prices and preventing sharp spikes. Officials highlighted that some commodities are now returning close to pre-volatility levels, signaling improved market conditions.
The committee emphasized the need to sustain these policy measures to ensure continued price stability and protect consumers, while maintaining macroeconomic balance.
In addition to reviewing inflation trends, the ECC approved several Technical Supplementary Grants (TSGs). These included Rs100 million for the Cannabis Control and Regulatory Authority (CCRA) for operational improvements, Rs311 million for the Government of Balochistan to support incentives for PAS/PSP officers, and Rs372 million for the National Accountability Bureau (NAB) to advance digital transformation and AI-based systems.
The committee also approved Rs30 million for the Pakistan National Hockey Team as a reward for qualifying for the FIH Hockey World Cup after eight years.
A key agenda item included the approval of funding for Pakistan International Airlines Corporation Limited liabilities through PIA Holding Company Limited, covering pension, medical payments, and salaries, while referring certain matters to relevant authorities for further adjustment.
The ECC also endorsed amendments to the Import Policy Order 2022 in line with International Labour Organization commitments, introducing a ban on imports produced through forced labour. Additionally, it approved a pilot project under export facilitation schemes allowing temporary import of used vehicles and auto parts for refurbishment and re-export.
The committee further approved the disposal and export of donkey meat and hides from Gwadar under regulatory protocols, while referring the Public Service Obligation agreement with power distribution companies to the Cabinet Committee on State-Owned Enterprises for further consideration.
The meeting was attended by senior cabinet members, including Jam Kamal Khan, Sardar Awais Ahmed Khan Leghari, Rana Tanveer Hussain, and Ahsan Iqbal Chaudhary, along with key officials from various ministries and regulatory bodies.
