NPMC reviews fuel price hike impact on fares and essential goods

ISLAMABAD: The National Price Monitoring Committee (NPMC) on Saturday reviewed the impact of higher petroleum prices on transport fares and the prices of essential commodities, with Planning Minister Ahsan Iqbal asking provincial governments to move quickly to contain inflationary pressure after the recent fuel increase.

According to an official statement, officials told the committee that diesel prices had risen sharply. They said transport fares in major urban centres had increased by an average of 25 to 30 per cent, while some routes had recorded fare hikes of as much as 50pc.

Expressing concern over the situation, Mr Iqbal directed provincial authorities to make sure transport departments issue revised fare notifications within 24 hours and enforce them strictly. He said the relief provided through government subsidies should not be undermined by arbitrary fare increases imposed by transporters.

The minister also instructed chief secretaries to place clear responsibility on provincial transport secretaries for regulating fares and ensuring compliance. He called for stronger field-level enforcement, including random inspections and verification measures, to check overcharging.

Weekly monitoring ordered

Referring to the possibility of a second-round effect on food prices because of increased logistics costs, the minister ordered weekly monitoring of essential commodities. The committee will now meet every week, especially during the coming month, to keep a close watch on price movements.

The Pakistan Bureau of Statistics was assigned the task of providing district-wise price rankings every week so that unusual trends can be identified and provincial administrations can take corrective steps in time.

Mr Iqbal further directed market committees and district administrations to regulate wholesale and retail prices and monitor profit margins in order to prevent hoarding and profiteering.

The meeting also placed special focus on maintaining uninterrupted supplies of perishable goods and staple food items. These included tomatoes, onions, potatoes, wheat, rice and pulses.