Tuesday , June 2 2020

Huge differences in wholesale and retail prices of commodities indicate Unjustifiable profitability: Imran Khan


Imran Khan chaired the meeting about curbing the inflation rate and prices of commodities. The meeting was also attended by Minister for Planning Makhdoom Khusro Bakhtiar, Energy Minister Omar Ayub Khan, Advisor to Finance Minister Abdul Hafiz Sheikh, Advisor to Commerce Abdul Razzaq Dawood, Information Minister Punjab Mian Aslam Iqbal, Finance Minister Punjab Makhdoom Hashim Jawan Bakht and other senior officers.

At the meeting, the Prime Minister was given a detailed briefing on the measures and their consequences for controlling prices of essential commodities, especially wheat and flour.

Related: Imran Khan won hearts of the Sikh community living all across the world: President Punjabi Sikh Sangha

Participants of the meeting expressed satisfaction over the decision by the Economic Coordinating Committee to release 6.5 million tonnes of wheat from the reserves of PASCO to the provinces, saying that the move would help in controlling wheat and flour prices in the country. It will be further improved by the decision of the Economic Coordination Committee.

Prime Minister Imran Khan said that the significant difference in the wholesale and retail prices of the commodities pointed to illicit profit-taking and storage inflows, with particular focus on making administrative-level measures more effective to reduce this gap. In order to control the cost of goods, a comprehensive plan should be made with regard to the availability of goods; special attention should be paid to the effective management of all necessary management measures.

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