ISLAMABAD/LAHORE: The federal government has moved into high gear to manage spiraling inflation and counter the agricultural devastation brought by recent floods, which have ravaged millions of acres of farmland nationwide.
Finance Minister Muhammad Aurangzeb, while chairing the second meeting of the inflation steering committee in Islamabad on Thursday, stressed that price stability and relief for flood-hit households remain top priorities for the government. He underlined the need for strict monitoring of markets to curb profiteering and speculative pricing, warning that artificial hikes would not be tolerated.
The session brought together senior officials from the ministries of finance, petroleum, energy, planning, food security, as well as representatives from the State Bank, the Bureau of Statistics, and the Sustainable Development Policy Institute (SDPI). The committee, formed under Prime Minister Shehbaz Sharif’s directives, has been tasked with closely tracking inflation trends and coordinating policies across federal and provincial levels.
Officials briefed the forum that wheat reserves, including strategic stocks, were currently sufficient. Early assessments also suggested that losses to rice and sugarcane though serious were “manageable” for now. The finance minister nevertheless called for stronger preparations ahead of the upcoming sowing season, directing authorities to ensure the timely provision of seeds and inputs to farmers.
The committee also instructed the NDMA, Suparco, and the Bureau of Statistics to work jointly with provincial governments for accurate and timely damage assessments. It will reconvene next week to review progress and recommend further measures.
Meanwhile, National Food Security Minister Rana Tanveer has begun consultations with provincial leaders to gauge crop losses more precisely. He is set to meet Sindh Chief Minister Murad Ali Shah on Sunday and will also hold talks with Punjab Chief Minister Maryam Nawaz, along with the provincial chief and food secretaries. The discussions are expected to focus on relief for affected farmers and the possibility of revising import policies to avert food shortages.
In Punjab alone, floods have wiped out crops over 2.1 million acres of farmland, according to the provincial Agriculture Department. Major losses include 110,850 acres of cotton, nearly one million acres of rice, over 220,000 acres of sugarcane, 186,419 acres of maize, 450,000 acres of fodder, and more than 115,000 acres of vegetables.
For policymakers, the dual challenge is stark: rebuilding a battered agricultural sector while ensuring ordinary Pakistanis are not crushed under the weight of rising food prices. The weeks ahead, officials admit, will test both the government’s resolve and its ability to deliver on promises of stability.
