Ahsan IqbalIslamabad, 11 Apr, 2025: Prices of Essential Items were at the forefront of a crucial meeting chaired by Federal Minister for Planning, Development & Special Initiatives, and Professor Ahsan Iqbal, who reviewed the latest trends in commodity prices nationwide.
The session brought together high-ranking officials from various federal ministries and departments, including Planning, Finance, Commerce, Industries, National Food Security, and others, along with provincial representatives and technical experts from the Pakistan Bureau of Statistics (PBS), who joined physically and via video link.
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The Chief Statistician of PBS presented updated inflation data, revealing a historic slowdown in price hikes. The Consumer Price Index (CPI) saw a remarkable drop to just 0.7% in March 2025 compared to 20.7% in the same month last year.
While inflation in rural areas held steady at 0%, urban regions showed a minor rise of 1.2%. Despite the overall decline, core inflation persisted at a higher level, recorded at 8.2% for urban and 10.2% for rural zones.
Ahsan Iqbal urged the development of a forward-looking price monitoring framework and a supply-demand forecast system to manage critical periods like Ramadan and Eid.
He directed relevant ministries to adopt coordinated strategies for market stabilization, emphasizing that Prices of Essential Items must remain consistent to protect the purchasing power of the average citizen.
PBS highlighted weekly spikes in the prices of poultry, onions, and potatoes, while bananas had earlier seen a notable increase. The Minister emphasized shifting towards frozen poultry to manage supply shocks and maintain stability.
Ahsan Iqbal tasked the Ministry of National Food Security & Research (MoNFS&R) with crafting a targeted price management plan for the poultry sector and scaling up cold chain logistics.
He further proposed encouraging the domestic production of tomato paste to reduce reliance on raw tomatoes and mitigate seasonal price volatility.
He also criticized the lack of centralized boards for key products like edible oil and called for urgent policy action.
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The PBS revealed concerning disparities between wholesale and retail rates, sometimes exceeding 100% in cities like Karachi and Quetta.
In response, Iqbal instructed officials to take immediate action against excessive profiteering and unjustified price margins.
Prices of Essential Items remain a priority, and the Minister stressed the need for long-term agricultural planning, including land optimization and the industrial processing of vegetables.
All provinces have been instructed to enhance their price-checking frameworks and actively participate in PBS-led sessions scheduled later this month.
