ISLAMABAD: Finance Minister Muhammad Aurangzeb has vowed to stabilise prices and protect vulnerable households, even as consumers continue to face sharp increases in wheat, rice and perishable items in markets across Pakistan.
Chairing the second meeting of the Steering Committee for Assessment of Inflationary Trends, Aurangzeb said the body had been tasked by the prime minister to “closely track market developments, coordinate policy responses across federal and provincial levels, and recommend timely administrative measures to contain inflationary pressures and protect the purchasing power of the people,” according to a press release issued by the Finance Division.
The committee reviewed the Sensitive Price Index (SPI) basket and discussed trends in essential food commodities, including onions, tomatoes, rice, wheat, sugar and edible oil. Province- and region-wise stock positions and import needs were also examined.
Aurangzeb told participants that “sufficient wheat stocks, excluding strategic reserves, are currently available,” and added that “initial assessments suggest the damage to the rice and sugarcane crop is manageable.” However, retail markets tell a different story. Reuters reported last week that wheat prices had climbed by nearly 50 per cent in a month, with chakki flour and other categories also spiking in Karachi and Lahore. According to local reports, retail wheat costs around Rs 96 per kilogram in some urban markets. BBC Urdu, likewise, reported that rice rates have surged by Rs 30–40 per kg, with Basmati and Sella varieties now selling close to Rs 340 per kg in certain retail outlets.
The committee also took note of the rising prices of vegetables in the market. Dawn, citing SPI data, reported that onions rose by 12.17 per cent and tomatoes by 10.47 per cent week-on-week, with tomato prices in Islamabad hitting Rs 280 per kg. Consumers and traders told reporters that shortages and supply disruptions had pushed prices well above official lists.
The Finance Minister stressed the need for vigilance to counter profiteering and artificial price hikes. “The government will ensure strict monitoring and vigilance against market speculation,” the Finance Division statement quoted him as saying.
In preparation for the upcoming sowing season, the minister directed the National Disaster Management Authority (NDMA), SUPARCO, and the Pakistan Bureau of Statistics (PBS) to coordinate with provincial governments to finalise accurate crop-damage assessments and ensure the timely availability of seeds and other agricultural inputs.
The steering committee agreed to reconvene next week to review progress. “We will continue to take timely and proactive measures to ensure price stability and protect the purchasing power of the people,” Aurangzeb added.
