Inflation: PM Imran Khan announces measures to control food prices in Pakistan

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Starting Monday in coming week, our govt will use all the resources at the disposal of the state to bring down food prices. We are already examining causes of the price hikes: whether there is a genuine supply shortage or simply hoarding by mafias; smuggling, if any;</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1314856621030469632?ref_src=twsrc%5Etfw">October 10, 2020</a></blockquote>
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<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Or a price rise due to international prices such as for palm oil, lentils etc. From next week we will have our strategy in place & action will begin using all state organisations & resources to bring down food prices.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1314856624465608706?ref_src=twsrc%5Etfw">October 10, 2020</a></blockquote>
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[Zeshan547]

What was the government doing all this while? figuring out this magical method to control prices. I support PTI but when it comes to price management they are worst government till date I think.

 

[Thunderbolt14]

What was the government doing all this while? figuring out this magical method to control prices. I support PTI but when it comes to price management they are worst government till date I think.

Price management implies a government subsidy. Otherwise if there is simply a price ceiling imposed it ends up constraining supply below the market equilibrium and you end up with a shortage. Basic economics. This ends up hurting the gharib aadmi even more.

Would you rather food be more expensive or it be less available?

 

[saeedhk]

What was he doing in the last two years? After spending two years in the government, he is still saying he will come up with a strategy to curb inflation. Height of incompetency.

 

[Bewal Express]

Classic Monetarist theory suggests that inflation is a product of too much money( govt printing money)chasing too few goods, and that's one explanation but in PK we have the phenomenon of crooked businesses creating artificial shortages. If that is happening and as we saw with both Sugar and Wheat, hoarding was the reason why there was shortages. To combat this the market needs tighter regulation and more competition. PK should import more in the short term( but lack of Foreign currency makes that difficult)and look to improve supply in the longer term. IK needs to also allow farmers to sell directly to consumers and this will stop the middle making fortunes and also hot the hoarders with massive fines.

 

[MenInG]

 

[Abdullah719]

Hafeez stresses for drastic measures to curb inflation

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Monday urged upon all the stakeholders to take drastic measures to curb inflation.

Chairing the meeting of National Price Monitoring Committee (NPMC) to review the prices of essential perishable commodities, the Advisor emphasized on the role of district market committees to curb price variation effectively.

The Advisor also directed the Chief Secretaries to minimize price disparity by streamlining the release of wheat at regular intervals to avoid profiteering.

Among others, the NPMC meeting was attended by Minister for Food Security Syed Fakhar Imam, Adviser for Commerce Abdul Razaq Dawood, Adviser to PM on Institutional reforms Dr. Ishrat Hussain, Special Assistant to the Prime Minister on Revenue Dr. Waqar Masood, Secretary NFS&R, Secretary Planning, Secretary Ministry of Industries & Production, Chief Secretaries from Punjab, Sindh, KPK and Balochistan, Chairperson, Competition Commission of Pakistan and representatives from Utility Stores and Pakistan Bureau of Statistics.

The NPMC deliberated upon increase in the prices of wheat, sugar and perishable items namely Tomatoes, Onions, Potatoes and Chicken and discussed corrective measures to provide relief to the end consumers.

It was stated by the concerned Ministries that the reasons behind the price hike include gap in supply and demand due to climatic factors, upward trend in international prices and increased profit margin between wholesale & retailers, particularly in metropolitan areas.

There was a general consensus that recent rains and COVID-19 have further aggravated the situation.

NPMC also reviewed the time-line for import of wheat and sugar to meet domestic demand for the same.

The Adviser Finance was briefed that the total public sector procurement for wheat through government to government (G2G) and TCP is equal to 1.8 MT based on the demand estimates provided by the Provinces and PASSCO.

It was also stated that sufficient sugar stocks are available in the country till November, 2020.

Adviser Finance also directed Utility Stores to streamline the availability of essential items in order to provide maximum relief to the lowest strata of the society.

The Advisor Finance expressed confidence that effective and well-concerted actions by the Provincial Governments and the concerned Ministries will help in controlling the menace of inflation.

https://www.brecorder.com/news/40025491/hafeez-stresses-for-drastic-measures-to-curb-inflation

 

[MenInG]

MUZAFFARGARH: Pakistan Tehreek-i-Insaf MPA Khurram Sohail Leghari claims that he has resigned as adviser to chief minister and member of price control committee because of the alleged non-cooperation of the bureaucracy.

However, a reliable source said the Punjab government had asked him for resignation because he always [allegedly] violated party decorum and met with Jahangir Khan Tareen when the latter parted ways with the party.

Speaking of reason for resignation, Mr Leghari said the respective officials did not attend his calls when lands and houses in his constituency were hit by the Indus erosion and [later] no funds were provided.

The source said Mr Leghari would lash out at the administrative officials during meetings.

He said three days back he was not called in price control committee meeting at deputy commissioner office.

Khurram Sohail Leghari, son of ex-MPA Sardar Allah Wasaya Chunnu, made it to the Punjab Assembly in the 2018 election. He is said to be close to Ali Jahangir Tareen and Leghari visited [reportedly] him in Dubai thrice with Multan Sultan cricket team.

Leghari said he was disappointed by the attitude of bureaucracy.

Many PTI workers are of the view that if he had differences with the party leadership he should resign from the MPA slot.

https://www.dawn.com/news/1585239/resignation-of-cms-adviser-stirs-controversy

 

[Abdullah719]

PM asks Tiger Force ’not to interfere personally’

While addressing Corona Relief Tiger Force (CRTF) volunteers, the prime minister sought to explain the reasons for double-digit inflation in the country.

He said Pakistan had a record trade deficit of Rs40 billion when the PTI came into power. Because of the deficit, the rupee fell sharply against the dollar which in turn made imports, such as those of food items, more expensive.

Additionally, he said, for two years the rain fell when wheat was set to be harvested. The country needed 2.7 million tonnes of wheat but because of a deficit, its price started rising, the premier said.

“We got to know about it late because the system for determining it was non-functional. We have now imported to compensate for the shortage. [But] the market did not know and hoarding started. It is a big curse in our country and I need you for this,” he told the volunteers.

He directed Tiger Force members “not to interfere anywhere personally” and only take a picture and upload that and the location where a product is being hoarded to the government’s portal.

“It is the job of the administration to take action. You have to go to shops where prices are not displayed and you have to take and send a picture. I repeat, you do not have to interfere yourselves,” Imran said, adding that there was a risk some people would pose as Tiger Force members to mint money from traders.

The prime minister’s instructions come after opposition parties and traders opposed the government move to deploy Tiger Force volunteers for checking prices of food items to help it control inflation.

https://www.dawn.com/news/1585559/c...ck-at-nawaz-for-maligning-military-leadership

 

[Savak]

Has Jehangir Tareen been removed from pti?

 

[sa88]

There is a simple solution to these recurring food shortages.

Remove all trade barriers especially on imports. Have local people pay the global market price for goods and provide a subsidy to the poorest who can’t afford the global market price.

That will kill the hoarders and smugglers overnight. If they try to create artificial shortages go after them with anti cartel laws.

Price controls are a terrible idea and nearly impossible to police.

 

[Zeshan547]

Not the brightest i am afraid. What is all those good for nothing government employees role if these volunteers have to control the pricing?

 

[saeedhk]

Nothing has been done to curb inflation. All blame lies on IK. He is all talk!

 

[Abdullah719]

PM for constant monitoring of prices, supply, availability of wheat, sugar

ISLAMABAD: Prime Minister Imran Khan on Thursday called for constant monitoring of the situation of availability of flour and sugar in the country and ensuring pre-emptive arrangements for future requirements.

He also directed to ensure arrangements for the supply of imported sugar in various parts of the country so as to avoid any delay in that respect.

The prime minister was chairing a review meeting about the measures being taken to check the prices of essential items and ensure their availability.

The prime minister said though the availability of essential items and fixation of prices come under the purview of provinces yet keeping in view the facilitation of poor masses, he himself was monitoring the situation.

He said the government was making every possible effort to provide relief to masses.

The prime minister said since all the economic indicators were moving in positive direction, the government was fully striving to share the benefits of this positive movement in economic spheres with the masses.

Chief Secretary Punjab briefed the meeting in detail about the availability and prices of flour and sugar in the province.

The meeting was told that in order to ensure the availability of wheat flour in the province, officers of all districts were continuously monitoring the situation.

It was further told that a detailed consultation had been done with the flour mill owners.

Chief Secretary Punjab assured the meeting that the grinding of 25,000 tons of wheat per day and the availability of flour in the market would be ensured.

Chief Secretary Khyber Pakhtunkhawa told the meeting that with 11,000 tons of daily consumption, the province had 1.1 million of wheat in stock.

The meeting was told the flour millers in KPK have agreed to reduce Rs. 10 to 50 in the price of 20 KG flour bag each. 2400 FIRs have been registered against the profiteers and hoarders in the province.

Chief Secretary KPK assured the meeting that the provincial government was ensuring the release of 5000 tons of wheat per day.

https://www.brecorder.com/news/4003...-of-prices-supply-availability-of-wheat-sugar