Govt Committed To Provide Maximum Relief To Masses: Tarin
Umer Jamshaid 1 month ago Fri 17th September 2021 | 10:13 PM
Federal Minister for Finance and Revenue, Shaukat Tarin on Friday said, the government is committed to provide maximum relief to the masses
ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Sep, 2021 ) :Federal Minister for Finance and Revenue, Shaukat Tarin on Friday said, the government is committed to provide maximum relief to the masses.
Reviewing the price trend of basic commodities, the Finance Minister stated that the Government is taking a slew of administrative, policy and relief measures to absorb the upward pressure on prices of basic food commodities amid COVID-19 pandemic which has resulted in massive fall in global food production coupled with supply side disruptions worldwide, said a press release issued by Ministry of Finance.
The Minister said that direct subsidy is being provided to 12.5 million households which is roughly equivalent to 40 percent of the total population in the country on four essential food commodities He said that FBR has been directed to work out strategy to ensure measurable impact on the prices of ghee/vegetable oil in domestic markets soon.
Moreover, sugar (0.6 MMT) and wheat (4.0 MMT) are being imported to build strategic reserves and Provincial administrations and departments concerned have been directed to sell both the commodities at Government fixed rates, he said.
Tarin said that all these measures have been taken to stabilize prices of the essential items during the short term.
He said that the medium-to-long term strategy includes process re-engineering to increase the production of key crops to boost agricultural productivity.
This will ensure that farmers will get due share of their produce.� The SAPM on Food Security Jamshed Iqbal Cheema apprised the Finance Minister about the arrangements being made to purchase 40,000 ton each of gram and moong for building strategic reserves of pulses.
These pulses would be supplied through a chain of Utility Store Corporations (USCs) and Saasta Sahulat Bazaars to ensure smooth supply at reasonable rates, he said.
A firmed-up summary to this effect will be placed before ECC for requisite approval next week.
With reference to petroleum prices, the Finance Minister briefed that petroleum prices in Pakistan are the lowest in the region.
The Government has sustained maximum pressure of increased international petroleum prices by keeping petroleum levy to minimum.
It is a clear reflection that Government is fully cognizant of the impact of the fuel prices on the prices of basic commodities that affect people directly.