Pakistan allows additional duty-free import of potatoes to curb prices

The Economic Coordination Committee of the Cabinet (ECC) on Thursday approved the summary of the Ministry of National Food Security and Research for extension in date for the permission for the import of potatoes with zero duty.

The ECC here under the chairmanship of Finance Minister Senator Ishaq Dar was also allowed the import of 100,000 metric tons of potatoes in addition to already approved 200,000 metric tons at zero duties; this extension will continue till November 15, 2014 when the new crop is expected.

The ECC on April 25, 2014 allowed duty free import of potatoes to bring down the high prices manipulated by hoarders and middle men.

It was informed to the ECC that if immediate duty free import is not allowed, than the potatoes would be selling at very high price during Ramzan.

It was in this context that the Finance Minister approved appropriate measures to control the prices, in coordination with the provincial governments.

The Finance Minister said that it is our obligation to stabilize the prices of essential commodities during the month of Ramzan.

"We have given the Ramzan Package of Rs 2 billion to serve the consumers and due to this subsidy package price of essential commodities remained under control", he added.