Islamabad: Finance Minister Shaukat Tarin instructed the Secretary Ministry of National Food Security and Research on Monday (August 9) to establish strategic reserves of essential commodities under the Public-Private Partnership (PPP) model, news sources reported. The decision was taken during the National Price Monitoring Committee (NPMC) meeting to review commodity prices.
Under the project commodity warehouses, storage facilities, and agri-malls will be developed to discourage the hoarding of wheat, sugar, and palm oil and other basic commodities. According to the minister, the development of strategic reserves for key food items is necessary given the coronavirus pandemic and the changing prices of commodities.
The policy will prevent excessive profiteering since the government will release these reserves to manage supply and demand in the market. In addition, he stated that Pakistan is currently a net importer of wheat, oil/ghee, sugar, and pulses. The meeting also reviewed the prices and the import-related matters of various consumer items including wheat, and sugar.
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