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Hafeez urges administrative motion to cut back profiteering

by News Updater

ISLAMABAD: Finance Adviser Dr Hafeez Shaikh on Monday urged provincial governments to take essential administrative measures to cut back high-profit margins between wholesale and retail ranges.

The course got here from the adviser throughout the Nationwide Value Monitoring Committee (NPMC) assembly which he was chaired. Minister for Industries Hammad Azhar, Particular Assistant on Income Dr Waqar Masood, and federal secretaries attended the assembly whereas provincial chief secretaries joined by way of video hyperlink.

Quoting the finance adviser, an official assertion issued after the assembly mentioned it was the federal government’s accountability to make sure availability of important objects for customers at inexpensive costs.

Dr Shaikh held an in depth dialogue with the provincial chief secretaries concerning place of wheat and sugar shares within the provinces. The assembly was knowledgeable that at current, adequate portions can be found to fulfill present demand.

Adviser finance emphasised the provincial governments to make sure easy provide of important objects.

The NPMC reviewed the worth pattern of important commodities together with wheat flour, sugar, tomatoes, onions, vegetable ghee, potatoes and hen on weekly foundation.

Presenting the worth pattern of important commodities, Finance Secretary Naveed Kamran Baloch famous that within the newest SPI launched by Pakistan Bureau of Statistics, there was a decline within the costs of 10 important commodities (together with wheat flour, sugar, onions, tomatoes and hen) whereas the costs of 11 commodities elevated barely. Value of 30 objects remained secure.

Adviser finance expressed satisfaction over declining value pattern in wheat flour, sugar, onion and tomatoes as in comparison with October 2020.

Secretary Nationwide Meals Safety and Analysis Omar Hamid Khan introduced a quick replace on import of wheat throughout the assembly. The Logistics Committee performed a key function in resolving points associated to wheat and sugar shares amongst provinces, he underlined.

The assembly requested provincial governments and Utility Shops Company (USC) ought to reassess their import necessities for wheat and sugar and take up with the Ministry of Nationwide Meals Safety and Analysis accordingly in order that the matter could also be positioned earlier than ECC for approval. The Ministry of Manufacturing will take up the requirement of wheat and sugar for USC with Pakistan Agricultural Storage & Providers Company Ltd and Buying and selling Company Pakistan instantly.

The finance adviser harassed that provincial governments ought to exercise plan to make sure easy provide of perishable objects as a way to keep away from any undue value hike.

Revealed in Daybreak, December 1st, 2020

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