Dar directs authorities to curb rising wheat prices

They also included immediate actions to curb rising wheat prices by improving market supplies and discouraging stockpiling and speculation, the deputy prime minister and foreign minister said.

Chairing a meeting of the cabinet committee to assess the inventories, prices and availability of vital commodities, Dar said ensuring food security and provision of essential items at affordable costs were among critical government goals.

The meeting took stock of national stocks, procurement arrangements, domestic consumption and the price trends that prevail. Officials assured participants that there were sufficient stocks of basic goods to ensure stability of local marketplaces.

The committee was also assured that the stocks of domestic and imported wheat were adequate to cover the country’s requirements till the next harvest.

Officials claimed the market price of sugar was much below the government’s target retail price of Rs155 per kg and the inventories available were sufficient to supply the demand till the next crushing season.

Ishaq Dar also urged the concerned federal and provincial departments to thoroughly monitor supply chains and market activities, adding that hoarding and speculative practices would not be tolerated.

The meeting was attended by National Food Security and Research Minister Rana Tanveer Hussain, Climate Change Minister Musadik Malik, Special Assistant to the Prime Minister Tariq Bajwa, Secretaries of the Ministries of National Food Security and Research and Commerce, Chief Secretaries of the provinces and senior officials of the concerned departments.