Meeting airs concern over rising prices

Minister gives directives for current and previous fare comparison, probe into high DAP prices Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal chaired a meeting of the National Price Monitoring Committee (NPMC) on Thursday to review the monthly and weekly inflation situation, wholesale-retail price gaps, prices of essential commodities and implementation of previous decisions. The minister expressed concern over rising prices of essential commodities, particularly wheat flour, and directed provincial and district administrations to strengthen the monitoring of supplies, market arrivals, hoarding, profiteering and unjustified price increases. The meeting was informed that the Consumer Price Index (CPI)-based inflation stood at 10.3% year-on-year in September 2026, compared to 11.1% in August, while average inflation during July-September FY2026-27 stood at 10.2%. The Wholesale Price Index (WPI) increased 13.3% year-on-year, while the weekly Sensitive Price Indicator (SPI) for the week ended October 1 recorded an 11.53% year-on-year spike. Major annual increases were recorded in onions, LPG, electricity, diesel, petrol and wheat flour, while chicken, garlic, gram pulse and LPG recorded notable weekly increases. Ahsan Iqbal directed the concerned authorities to compare current transport fares with fares prevailing after the previous fuel price hike to determine whether the increase in fuel prices had resulted in any disproportionate rise in fares. He also told the Ministry of National Food Security and Research to examine why DAP prices remained high in Pakistan despite a decline in international markets, stressing that the benefit of lower international prices should be reflected in the domestic market. He emphasised that the inspection and quality assessment report regarding ghee, edible oil and milk products be submitted within one week. If the industry had proposed a third-party validation, he said, its cost should be borne by the industry and not the government. The minister asked provincial governments to closely monitor wholesale and retail prices and take enforcement action where unjustified gaps existed, particularly in major markets including Lahore and Karachi. He also called for close monitoring of supply chains and distribution costs to prevent disproportionate pass-through of fuel price increases to essential food costs. Ahsan Iqbal directed authorities to strengthen measures against hoarding, profiteering and overcharging and ensure uninterrupted supplies of essential commodities, particularly wheat flour, onions and other perishables. He told Ogra to take effective measures to reduce the gap between notified and prevailing market prices of LPG cylinders. The minister stressed that price monitoring should focus not only on statistics but also on identifying the causes of price increases, addressing market distortions and ensuring timely enforcement to protect consumers.