Deregulation of red meat, milk prices on govt’s cards

KARACHI: The federal government is contemplating the deregulation of milk, beef, and mutton prices, a move that would shift price control to market forces and eliminate government monitoring.

It has also been reported that the International Monetary Fund (IMF) has asked the Pakistan government to take back the powers of regulating milk and red meat prices from the deputy commissioners and it should be decided by the market.

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Following this ‘demand’ of the IMF, the federal government has begun considering deregulation of milk, beef and mutton prices.

A meeting was also called by the federal government in this regard where the federal and provincial officials, along with industry stakeholders, concurred that deregulating these prices is crucial for the livestock sector’s advancement.

The Ministry of National Food, Security, and Research (MNFSR) has initiated discussions with stakeholders regarding this proposal, according to Animal Husbandry Commissioner Dr Muhammad Akram. Following these consultations, a draft summary was submitted to various ministries, including Law and Justice, Industries and Production, and Finance, for feedback.

Support for price deregulation also came from a representative of the Expenditure Finance Division, who stressed the need for provincial consultation to refine the approach.

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The Balochistan Dairy Development Department has expressed support for this initiative, having already begun the approval process within the provincial cabinet. Similarly, the Sindh Government’s Livestock and Fisheries Department has advocated for consultations with farmers’ associations, meat processors, and retailers, along with an assessment of production costs across different systems.

Muhammad Akhtar from the Ministry of Commerce recommended researching regional economies to adapt effective price deregulation models.