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ISLAMABAD, Apr 10 (APP):Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal on Thursday chaired a high-level meeting to review current price trends of essential commodities across the country.
The Chief Statistician of Pakistan Bureau of Statistics (PBS) presented an overview of the current price situation, noting a historic deceleration in inflation. The Consumer Price Index (CPI) dropped significantly to 0.7% in March 2025 from 20.7% in March 2024, said a news release.
Rural inflation stood at 0%, while urban inflation increased slightly by 1.2%, attributed to a negative flow in food inflation in both urban and rural areas. However, core inflation remained relatively high at 8.2% in urban areas and 10.2% in rural regions.
Ahsan Iqbal emphasized the need for a comprehensive annual price pattern and called for the development of a robust demand and supply mechanism to address peak consumption periods, particularly during Ramadan, Eid, and other festivals.
He directed all relevant ministries to ensure coordinated efforts in stabilizing supply chains and instructed that the next meeting should specifically focus on preparations for Eid-ul-Adha.
Highlighting recent price trends, PBS informed that prices of chicken, potatoes, and onions surged in the past week, while banana prices had increased earlier in the month.
The Minister noted the volatility in poultry prices and stressed the need to shift towards cold and frozen chicken, a global standard that ensures greater price stability. He instructed Ministry of National Food Security and Research (MoNFS&R) to develop a price control mechanism for poultry and promote the use of frozen chicken.
The Minister also recommended promoting tomato paste production to mitigate price fluctuations of tomatoes. He called for an analysis of urban-rural price differentials within Islamabad in the next meeting.
Expressing concern over the lack of institutional frameworks for key agricultural products, the Minister criticized the absence of a national board for edible oil and vegetable processing. He stressed the urgent need for a land optimization strategy to determine local production targets, import needs, and supply channels for major crops such as wheat, sugarcane, and rice.
He further underscored the importance of cold chains for perishable items and encouraged industrial processing of vegetables like tomatoes. He urged MoNFS&R to prepare an outcome-based plan to promote indigenous production of high-import commodities, especially edible oil, and develop a roadmap for optimal agricultural land utilization and crop mixing.
PBS also presented alarming wholesale-retail price gaps exceeding 20% in major cities, with some differentials—such as those for onions and potatoes in Karachi and Quetta—exceeding 100%. The ICT Administration requested PBS to share the list of retailers involved in excessive profiteering for necessary action.
The minister acknowledged the historic reduction in inflation as a major success of the government but reiterated the need for continued measures to stabilize prices. He emphasized the importance of forecasting demand and supply at least three months in advance of special occasions to allow timely and pre-emptive interventions.
He further directed PBS to include commodity-specific inflation drivers in their future analysis.
It was decided that PBS will share detailed market-wise data on wholesale-retail price gaps with provincial and district administrations to facilitate effective administrative actions. PBS will also develop a three-month forecast of demand and supply trends for essential items for Ramadan and Eid, and present historical and recent price patterns of kitchen items in the context of Eid-ul-Adha.
Provincial governments and ICT Administration will strengthen monitoring mechanisms to prevent hoarding and profiteering and take strict actions against violators. MoNFS&R will present a comprehensive plan in the next NPMC meeting for establishing cold chains for chicken, vegetable processing units, and strategies for land optimization and crop mixing. The Ministry will also propose a plan for promoting local production of edible oil to reduce reliance on imports and stabilize prices.
As per the Federal Cabinet’s directions, all provincial governments are required to enhance their price monitoring systems. Senior provincial officers must ensure their active participation in upcoming PBS sessions scheduled at provincial headquarters from April 16 to 28, 2025 said Ahsan Iqbal.
The meeting was attended by senior officials from the Ministry of Planning, including the Secretary, Chief Economist, Chief and Deputy Chief of Macroeconomic Planning and Forecasting (MP&FP). Key participants also included the Chief Statistician, Member (SS), and Director (Prices) of the Pakistan Bureau of Statistics (PBS), alongside representatives from the Ministry of Finance, Ministry of Industries and Production, Ministry of Commerce, Ministry of National Food Security & Research (MoNFS&R), and the Islamabad Capital Territory (ICT) Administration.
Officials from the Ministry of Petroleum, Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), provincial and special areas governments, the Competition Commission of Pakistan, Utility Stores Corporation, and PASSCO joined the meeting via Zoom.