Imran vows to bring down food prices

Islamabad, Oct 11 (SocialNews.XYZ) Pakistan Prime Minister Imran Khan has vowed to use all available resources of the state to bring down food prices in the country.

In a series of tweets on Saturday, the premier said: "Starting Monday in coming week, our government will use all the resources at the disposal of the state to bring down food prices.

"We are already examining causes of the price hikes: whether there is a genuine supply shortage or simply hoarding by mafias, smuggling, if any. Or a price rise due to international prices such as for palm oil, lentils etc.

"From next week we will have our strategy in place and action will begin using all state organisations and resources to bring down food prices."

In response to Khan's announcement, Minister for Industries and Production Hammad Azhar, also tweeted: "South Asia has witnessed a temporary food inflation spike. (The) government will take all measures needed to reduce prices of essential commodities.

"Imported wheat and sugar will be released at control rates by provinces. All options are being examined for other commodities."

Khan's remarks came three days after ministers while reviewing the economic situation expressed resentment over the prevailing price hike and called for taking immediate steps to bring down inflation, reports Dawn news.

According to the Pakistan Bureau of Statistics (PBS), prices have been rising in the country for more than a year largely because of disruptions in food supply chains and periodic hikes in the administered prices of electricity and gas rather than a surge in demand for goods and services.

For the week ending on October 8, the PBS recorded an increase of 1.24 per cent over the previous week "mainly due to a rise of 1 per cent or more in prices of food items".

Source: IANS