Government Assures Wheat Stock adequacy, Intensifies Price Monitoring
Islamabad – A government commitee, led by Finance Minister Muhammad Aurangzeb, has reaffirmed the country’s sufficient wheat reserves and ordered increased market surveillance to prevent price manipulation and artificial inflation.The directive came during the committee’s second meeting on Thursday,convened to assess inflationary trends following recent flood-related disruptions.
The Steering Committee, established last week by Prime Minister Shehbaz Sharif, is focused on reviewing food stock levels and the pressures driving inflation. According to an official statement, current wheat stocks – excluding strategic reserves – are considered adequate to meet demand. Initial assessments also indicate that damage to rice and sugarcane crops from the floods is manageable.
Despite reports of rising wheat costs and subsequent price increases for roti (bread) in some cities, including warnings from bread makers in the federal capital, government officials maintain there is no wheat shortage. Aurangzeb emphasized the importance of vigilant monitoring to counter market manipulation and prevent unwarranted price hikes.
The committee conducted a detailed review of factors influencing price trends,both domestically and internationally. Controlling inflation and stabilizing prices were highlighted as top government priorities, particularly to protect vulnerable populations and those affected by the recent floods.
The committee’s mandate includes close tracking of market developments, coordination of policy responses between federal and provincial governments, and recommending timely administrative measures to safeguard public purchasing power.
The meeting included a thorough assessment of essential food items, analyzing recent movements in the Sensitive Price Index (SPI). Commodities like onions, tomatoes, rice, wheat, sugar, and edible oil were discussed, focusing on regional supply trends, stock levels, and import situations.
Preparations for the upcoming sowing season were also reviewed, with a focus on ensuring timely access to seeds and other agricultural inputs. aurangzeb instructed the National Disaster Management Authority, Space and Upper Atmosphere Research Commission, and the Pakistan Bureau of statistics to collaborate with provincial governments to complete accurate and timely crop damage assessments.
The Steering Committee is scheduled to reconvene next week to evaluate progress on actions aimed at ensuring price stability.
