In response to the surge in food prices, the Food and Industries Departments of Punjab, Sindh, and KP have jointly implemented robust monitoring measures, including heavy fines, surprise raids, and the sealing of establishments engaging in price gouging.
The Caretaker Minister for Planning, Development, and Special Initiatives, Muhammad Sami Saeed, led a crucial meeting of the National Price Monitoring Committee (NPMC) on Tuesday.
The committee convened to assess the prices of essential commodities amid the current economic challenges.
As of the week ending on January 11, 2024, the Chief Statistician, PBS, presented a comprehensive overview of the country’s price situation.
The report revealed a 1.4 per cent increase in the SPI over the previous week (WoW) and a significant 44.2 per cent surge over the corresponding week of the previous year.
The spike in SPI was primarily attributed to the increased prices of perishable items such as tomatoes and onions, as well as poultry products like chicken and eggs.
Out of the 21 monitored items, prices for 21 increased, 8 decreased, and 22 remained stable. Noteworthy declines were observed in the prices of potatoes, vegetable ghee, and sugar.
During the meeting, the minister inquired about the measures taken by provincial governments and ICT to bridge the gap between wholesale and retail prices.
Representatives from the provincial Food and Industries Departments of Punjab, Sindh, and KP assured strict monitoring through the imposition of heavy fines, surprise raids, and the sealing of shops involved in overcharging.
Despite challenges in the supply of perishable items due to extreme weather conditions, the meeting underscored the importance of addressing climate change.
The administration of Punjab is actively working on controlling prices by sensitising Deputy Commissioners across the province.
