Ahsan reviews inflation, transport fares, overall supply chain

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Saturday chaired an online meeting of the National Price Monitoring Committee (NPMC), reviewing prices of essential commodities, transport fares and the overall supply chain situation across the country.

The meeting was briefed by the Pakistan Bureau of Statistics (PBS) that transport costs had witnessed a significant decline due to government subsidies, with fares reduced by 20 to 30 percent in several cities.

However, taking notice of increased fares in Karachi, the minister directed the Sindh government to take immediate corrective action. Data presented in the meeting showed that prices of eight essential items decreased during the last week, while 28 items recorded an increase. The prices of garlic, bananas, chicken and wheat flour declined by 3.78 percent, 3.39 percent, 1.05 percent and 0.73 percent, respectively, whereas diesel, petrol, tomatoes, LPG and potatoes registered notable increases.

The Sensitive Price Index (SPI) remained broadly stable, recording an overall rate of 1.93 percent during the week under review. The prices of ghee and edible oil also remained stable, while domestic fertilizer prices were kept under control despite rising global trends.

The Committee expressed concern over the significant gap between wholesale and retail prices in certain cities, particularly Karachi, where tomato and potato prices showed disparities of up to 142 percent and 117 percent, respectively. The minister directed provincial governments to ensure better price alignment between wholesale and retail markets.

Ahsan Iqbal instructed the relevant authorities to take strict action against profiteering and hoarding, ensure uninterrupted supply of fertilizers, and maintain adequate availability in view of upcoming crop sowing. He also stressed the need strengthening the monitoring mechanism to keep a close check on price fluctuations.

The minister said that, on the special directives of the prime minister, all possible relief must be provided to the public and abnormal increases in food prices must be prevented.

He expressed satisfaction that transporters were acting responsibly and that the benefits of government subsidies were reaching the people, while stressing the need for continued coordinated efforts to stabilize prices as the situation had not yet fully normalized.

Ahsan Iqbal on Saturday said that Pakistan was honoured to host the Islamabad Peace Talks, highlighting the importance of dialogue, restraint and wisdom to avert a wider conflict with global repercussions.

In a post on X, he said that Pakistan was committed to playing its part in bringing the warring sides from the battlefield to the negotiating table, while acknowledging the constructive role of key international stakeholders. “Pakistan is honoured to host the Islamabad Peace Talks and to play its part in bringing the warring sides from the battlefield to the negotiating table,” the minister wrote.

He paid tribute to the leadership of Pakistan, Iran and the United States, as well as other brotherly countries, for their engagement in creating an opportunity for peace. “Our effort has been guided by a simple conviction: that mistrust must yield to dialogue, restraint must prevail over escalation, and wisdom must triumph over the impulse for war,” he added.

Highlighting the far-reaching consequences of continued hostilities, Ahsan Iqbal warned that prolonged conflict would have catastrophic implications not only for the region but also for the global community. “This crisis is no longer a regional matter,” he said, adding that its economic aftershocks were already being felt worldwide through rising inflation, disrupted energy supplies, volatile markets and growing uncertainty.

He cautioned that if the conflict persisted, millions more people could be pushed into poverty, with the burden extending beyond the combatants to ordinary citizens across the globe. “The burden of failure will not fall on the combatants alone; it will be borne by ordinary men, women and children across the world through insecurity, inflation and instability,” he added.

Expressing hope for a positive outcome, the minister said the success of the talks would be crucial not only for regional peace but also for global economic security. “In the end, history will not remember who sounded the toughest; it will remember those who showed the wisdom and statesmanship to prevent a wider war,” he remarked. Staff Report