Govt bans food exports to control inflation

Export of foodstuff, especially perishable items, will be banned for the next three months, this was decided at a meeting of the National Price Monitoring Committee held under Finance Minister Shaukat Tarin on Wednesday.

Ministry of trade should consult with the food security ministry for the prospective restrictions, Tarin told officials concerned.

According to the finance ministry, the decision had been made in view of the seasonal increase in prices of commodities and the emerging situation in Afghanistan.

The secretary finance said that week-on-week inflation declined by 0.7%.

Governments of Sindh, Khyber-Pakhtunkhwa and Balochistan were told to release wheat in a timely manner to flour mills.

Fertilizers and oil

In the National Assembly, the finance minister informed lawmakers that the government would provide a massive subsidy on DAP fertilizer.

Responding to a question during Question Hour in the House on Wednesday evening, Shaukat Tarin said that the government was trying to provide relief to farmers to boost farm yields.

Answering another question, he said the economy was growing “after a long time and that is why imports are on the rise”.

Shaukat Tarin said that Saudi Arabia was considering extending oil facility to Pakistan. 

In response to a question, the parliamentary secretary for commerce, Aliya Hamza Malik, said that textile exports witnessed a growth of 23%, engineering goods 30% and carpets, footwear and surgical goods 14% each.

Responding to another question, the parliamentary secretary for planning, development and reform, Kanwal Shauzab, said that textile sector was working at its full capacity by availing the government’s withdrawal of duties and taxes on raw cotton import. She said almost half a million jobs had been created in the textile industry.


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