BUSINESS

Finance Minister chairs National Price Monitoring Committee meeting

ISLAMABAD,- National Price Monitoring Committee (NPMC) met here on Thursday to take stock of supply and prices of food and pharmaceutical items.

The meeting was chaired by Finance Minister, Asad Umar and attended by relevant federal ministries and provincial departments, said a statement issued by Ministry of Finance here.

The meeting reviewed prices of perishable and non-perishable food items, particularly 28 essential kitchen items.

The committee was informed that volatility in the prices of perishable items specifically tomatoes, onions, grams and pulses were primarily due to seasonal variations which have now subsided.

The Sensitive Price Indicator (SPI), which monitors mostly kitchen items for last two consecutive weeks in March 2019, is showing a sharp declining trend which suggests that the prices of these items in the market are on a downward trajectory.

The meeting decided that a strong forecasting mechanism would be put in place to ensure availability of essential food items for the coming 3 – 6 months in consultation with the provincial governments.