ISLAMABAD: Finance Minister Shaukat Tarin on Tuesday called for building strategic reserves of basic commodities namely wheat, sugar, edible oil, ghee, vegetables and pulses to prevent hoarding and undue profiteering.
“The government will flood the markets with necessary commodities to bridge the gap between supply and demand to check price hike.” he said while chairing a meeting of the National Price Monitoring Committee in Islamabad.
He said Pakistan had become the net importer of key food items such as wheat, sugar and pulses.
Shaukat Tarin said the current upsurge in international food prices amid coronavirus pandemic made it imperative to build strategic reserves of essential commodities to bring stability in prices of items of daily use.
The Bureau of Statistics, while releasing inflation data on a monthly basis, had said that the rate of inflation in July 2021 was 8.40%. Thus, inflation rose by 1.34 percent in July compared to June.
According to the latest data released by the Bureau of Statistics, in urban areas, tomatoes became costlier by 42.40 per cent and onions by 34.53 per cent, edible ghee by 6.70 per cent and oil by 6.56 per cent.