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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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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.

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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.

The Institute of Chartered Accountant of Pakistan was established on July 01, 1961 with the prime objective of regulating the profession of accountancy in Pakistan. It was due to the vision and the foresight of our predecessors that today we are the premier regulatory body for the development and regulation of the Chartered Accountancy Profession in the Country. ICAP is a prestigious regulating body that promotes, develops and supports over 10,000 Chartered Accountants. We provide qualifications, professional growth and development, share our knowledge, insight and technical expertise, and protect the worth and integrity of the accountancy profession. It is our expectation to bring researchers, academics and practitioners together to provide a thought views which explores the role of business and ethics in the business community.

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Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed increase of 0.04% as compared to increase in previous week by 0.51%. 33 food items contributed increase in the SPI by 0.32%, whereas 18 non-food items contributed decrease of 0.28% to the SPI. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed an increase of 1.10% as compared to decrease in previous week by 1.37%. 33 food items contributed increase in the SPI by 1.07%, whereas 18 non-food items contributed increase of 0.03% to the SPI. NPMC was updated on the prices of wheat flour which marked a continuous decline in the prices in the country for the last five weeks.

The meeting also discussed Fertilizer situation in the country and was informed that there is no shortage of Fertilizers in the country. The Meeting directed Ministry of I&P to formulate strategy to rationalize the prices of Fertilizers in the light of decision to provide subsidized supply of gas to the fertilizer manufacturers and for providing adequate relief to the growers. The Secretary Ministry of NFS&R informed on the stock position of Wheat and further apprised on the future requirements and the strategy for sustainable availability of Wheat in the country. The Chair expressed concerns on the low daily release of Wheat by the Baluchistan Government and directed the provincial authorities to bring stability in the prices of Wheat flour by increasing daily release of Wheat to the Flour Mills. The items which contributed in decline included Electricity by 0.91%, Eggs by 0.08%, Red Chillies by 0.03% and others by 0.06%. While prices of 28 items slightly increased that led to increase in SPI by 1.3% which included Petrol by 0.65%, Chicken by 0.19%, Long cloth by 0.18% and others by 0.28%.