Chief Minister Maryam Nawaz Sharif has announced the creation of a new institution dedicated to effective price control throughout Punjab, with a strong focus on leveraging artificial intelligence (AI) technology.
During a special meeting chaired by the Chief Minister, a detailed briefing was provided on the mechanisms for price regulation and associated challenges.
CM Nawaz directed that a special monitoring unit (SMU) be fully operational within six months and approved a new price control framework that aligns with international standards.
A key component of this initiative is the incorporation of AI to monitor and regulate prices more efficiently.
Meeting key points:
The Chief Minister highlighted that AI will play a crucial role in forecasting market trends and determining price fluctuations, enabling authorities to respond proactively to changes in supply and demand.
This innovative approach aims to enhance the effectiveness of price control measures and stabilize essential commodity prices.
In addition to the integration of AI, the meeting reviewed proposals for increasing wheat production and ensuring the availability of vital goods.
CM Nawaz emphasized the need to boost local cultivation of sunflower, soybeans, and canola to reduce dependence on imported palm oil while increasing the local production of tomatoes, onions, and other essential items across all cities.
The decision to issue ‘Forecast Bulletins’ leveraging AI technology will further support price stabilization efforts.
The Chief Minister stressed that these bulletins will provide timely information on market conditions, enabling better decision-making for both producers and consumers.
Furthermore, the establishment of an ‘Agri Monitoring Fund’ in Punjab was discussed, along with initiatives to connect farmers directly with buyers, ensuring fair prices for their products.
The proposal to register market traders was also examined to enhance accountability in the market.
CM Nawaz instructed officials to prioritize the swift nomination of the PAMRA Board and Market Committee Chairman.
She reiterated the importance of closely monitoring fluctuations in wheat and flour prices, as well as overall market dynamics.
The Chief Minister insisted that appointments within the SMU must be based solely on merit and assured that the interests of the public, farmers, and businesses will be safeguarded, with decisions reflecting the needs of Punjab’s residents.
The meeting was attended by Senior Minister Marriyum Aurangzeb, Provincial Minister for Information & Culture Azma Zahid Bokhari, Chairman Task Force Salma Butt, MPA Sania Ashiq Jabeen, Chief Secretary, Principal Secretary to the Chief Minister, Secretaries, and other relevant officials.
