Subscribing is the best way to get our best stories immediately.
The Economic Coordination Committee (ECC) of the Cabinet was informed on Monday that after a temporary uptick, the pace of price increase of essential items had slowed.
The ECC met today at the Finance Division under the chairmanship of the Federal Minister for Finance and Revenue, Aurangzeb, the Finance Ministry said in a press release.
“The ECC was briefed by the Chief Economist, Ministry of Planning, Development and Special Initiatives, on recent trends in key economic indicators, particularly price movements of essential commodities and overall inflation dynamics.”
The meeting was informed that, following a period of volatility, recent data indicate gradual stabilisation in prices supported by coordinated efforts at the federal, provincial, and district levels.
“Institutional mechanisms, particularly through the National Price Monitoring Committee, have strengthened market oversight and enabled timely interventions, the committee was informed.
The meeting was informed that several essential commodities, including tomatoes, onions, wheat flour, garlic, LPG, etc., had witnessed price reductions, while sugar had also shown a downward trend.
“At the same time, prices of items such as eggs, chicken, pulses, cooking oil, bread, and milk have recorded only marginal increases, indicating a broader easing in price pressures.”
Moreover, the ECC was further apprised that prices of key food and household items were gradually converging toward more stable levels, with some commodities returning close to pre-volatility benchmarks.
The ministry said that the ECC emphasised the importance of sustaining efforts to consolidate gains and ensure continued price stability in the coming months, in line with the government’s commitment to protecting consumers and maintaining macroeconomic balance.
Meanwhile, the ECC also took up regular agenda items and approved several proposals, including Technical Supplementary Grants (TSGs) across ministries and divisions.
These include:
The ECC also discussed a summary submitted by the Ministry of Defence regarding the allocation of Rs5.985 billion in favour of PIA Holding Company Limited (PIAHCL) for the settlement of liabilities of Pakistan International Airlines Corporation Limited (PIACL).
Out of the total amount, the committee approved funding for reimbursement of medical and pension payments as well as for salary disbursements and asked for taking up the matter regarding payment to the National Insurance Company Limited (NICL) with the relevant revenue authority for adjustment, in line with the recommendations of auditors.
The ECC further approved a summary submitted by the Commerce Division for amendments to the Import Policy Order (IPO), 2022, in line with Pakistan’s commitments under International Labour Organisation (ILO) conventions to introduce a prohibitory clause on the import of goods produced through forced labour.
In another summary submitted by the Commerce Division, the ECC approved amendments to the Import-Cum-Export Scheme of IPO, 2022 and Export Facilitation Scheme (EFS), 2021, to allow temporary import of used vehicles and auto parts for repair, refurbishment, and subsequent re-export under a pilot project, with directions for review after one year.
The ECC also considered a summary submitted by the National Food Security & Research Division seeking approval of recommendations regarding the export of donkey meat and hides from Gwadar Donkey Slaughter House, and approved a proposal for the disposal of existing inventory as per the applicable regulations and export protocols.
The ECC further considered a summary submitted by the Power Division regarding the Public Service Obligation (PSO) Agreement with Ex-WAPDA Distribution Companies (XWDISCOs) and asked for referring the matter to the Cabinet Committee on State-Owned Enterprises (CCoSOEs).
