Islamabad/Lahore:
The federal government has increased efforts to stabilize prices and tackle heavy agricultural losses caused by recent floods that have destroyed millions of hectares of standing crops across the country.
Chairman of the Second Meeting of the Inflation Management Committee in Islamabad on Thursday, Finance Minister Muhammad Aurangzeb said that control of inflation and securing price stability remained among the government’s promotional priorities for relieving low -income houses and families affected by the floods.
Senior officials from Ministries of Finance, Energy, Petroleum, Planning, National Food Security, State Bank, Bureau of Statistics and Sustainable Development Policy Institute (SDPI) attended the meeting.
The committee, which was formed on the directives of PM Shehbaz Sharif, has the task of monitoring inflation pressure, coordinating federal-provincial political measures and securing timely administrative decisions.
The meeting reviewed the entire food heat and recent changes in the sensitive price index (SPI). Officials informed that although adequate wheat stocks – in addition to the strategic reserves – were available, the first assessments suggested that the damage to rice and sugar cane crops was manageable.
However, the Minister of Finance emphasized strict surveillance to limit artificial price increases and called for effective action against speculation in the markets. Preparations for the upcoming sowing season were also discussed with instructions to ensure timely delivery of seeds and inputs.
The committee instructed NDMA, Suparco and Bureau of Statistics to work with provincial governments to implement accurate and timely crops assessments. Next week, it will restore progress and make further decisions aimed at stabilizing prices.
Meanwhile, Minister of National Food Safety Rana Tanveer has initiated consultations with provincial governments on crop loss. Sources confirmed that he will meet Sindh Chief Minister Murad Ali Shah on Sunday and is also expected to hold conversations with Punjab Minister Maryam Nawaz together with the provincial chief secretary and food secretary.
The meetings will undergo flooding and rain -induced agricultural damage, consider relief measures for farmers and aware of a possible new import policy for fruits, vegetables and other raw materials to avert food shortages.
The destruction has been particularly severe in Punjab, where the recent floods destroyed crops of approx. 2,125 million Acres agricultural land, according to the sources of provincial agricultural department. Large crops hit include cotton, rice, sugar cane, feed, corn and vegetables.
Officials said 110,850 hectares of cotton, 970,929 hectares of rice, 186,419 hectares of maize, 220,344 hectares of sugar cane, 450,000 hectares of feed and 115,260 hectares of vegetables lost in the recent floods in Punjab. (With input from app)
