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The meeting was apprised that prices of Eggs have witnessed decline for the last five weeks consecutively. Mr. Tariq H. Niazi appreciated and supported the efforts taken by the present government for improvement in social and economic sectors. He re-affirmed Bank’s commitment to continue support for the implementation of structural reforms in future. The Finance Minister further informed that the Government has taken steps to improve the revenue collection through broadening of tax base, capturing retail sales, single window operations as well as track and trace system.

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The meeting also discussed the inclusion of prospective Pakistani migrant workers into the programme and directed the stakeholders to frame modalities for the disbursement of interest free loans to Pakistani overseas workers. Deputy Managing Director, Pak-Libya Holding Company and senior officers were also present during the meeting. In his concluding remarks, the Finance Minister underscored the efforts being made for keeping the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country. NPMC was informed that Chillies Powder, Eggs, Electricity Charges, Onions, Potatoes, Gur, Sugar, Wheat Flour, LPG Cylinder, Pulse Moog, Pulse Mash have shown decline in the prices during the last week.

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Federal Minister on Finance and Revenue Mr. Shaukat Tarin commended the contribution of pharmaceutical manufacturers. It was accredited that this sector has substantial role in the economic development of the country. He assured that all such reservations of PPMA will be resolved at earliest time possible.

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While prices of 22 items increased that contributed increase in SPI by 1.52% which included Tomatoes by 0.97%, Chicken by 0.40%, Garlic by 0.02% and others by 0.13%. NPMC was informed that Potatoes, Onions, Eggs, Sugar, Moog Pulse, Mash Pulse have shown decline in the prices during the last week. The items shown decline in prices of Tomatoes by 0.24%, Potatoes by 0.04%, Onions by 0.04% and other by 0.11%. While prices of 16 items increased that contributed increase in SPI by 0.35% which included Garlic by 0.04%, Chicken by 0.20%, Banana by 0.03% and others by 0.08%. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.08% as compared to increase of 1.35% in the previous week, 33 food items contributed decrease of 0.07%, whereas 18 non-food items contributed decrease of 0.01% to the SPI. Both sides highlighted deep-rooted bilateral ties and cordial relationship between the two countries.

Efforts are being made to complete the remaining prior actions under the capital markets development programme to disburse it within time, he added. Finance Minister Mr. Shaukat Tarin ensured that government is fully supporting as well as undertaking all mandatory measures for boosting the IT sector in the country and providing incentives to boost IT sector exports. He further extended his full support to resolve the impending issues for the promotion of IT sector.