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Warehouses Ordered for Strategic Reserves of Commodities

According to news reports, Finance Minister Shaukat Tarin has asked the Secretary of the Ministry of National Food Security and Research to develop strategic stocks of key commodities under the Public-Private Partnership (PPP) model. During a meeting of the National Price Monitoring Committee (NPMC), it was decided to review commodity pricing.

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To deter the hoarding of wheat, sugar, palm oil, and other basic commodities, commodity warehouses, storage facilities, and agri-malls would be constructed as part of the project. Given the coronavirus pandemic and fluctuating commodity prices, the building of strategic reserves for important food items is necessary, according to the minister.

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As the government releases these reserves to balance supply and demand on the market, the program will avoid excessive profiteering. Moreover, he noted that Pakistan is a net importer of wheat, oil/ghee, sugar, and pulses at now. Wheat and sugar were among the numerous consumer goods whose prices and import-related issues were discussed at the meeting.

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