Cabinet meeting to review price rise postponed for Wednesday

Last Updated: Wednesday, January 13, 2010 - 00:17

New Delhi: The crucial meeting of a key
Cabinet committee to take decisions on checking the rising
prices of sugar and other items was postponed for tomorrow.

"The meeting has been postponed because Finance Minister
Pranab Mukherjee could not be present as he was tied up in
meetings with visiting Bangladeshi Prime Minister Sheikh
Hasina," the officials said. The meeting of the Cabinet
Committee on Price (CCP) will be held tomorrow, they added.
The CCP meeting, to be chaired by Prime Minister Manmohan
Singh, assumes significance and it is expected to take
decisions on increasing the availability of sugar and other
commodities to contain food inflation, which has soared to a
decade`s high of 20 per cent in the first week of December.

The retail sugar price has more than doubled from January
2009 and is currently inching closer to Rs 50 a kg.

Besides, prices of commodities like pulses, potato, onion
and vegetables have been rising due to widespread impact of
drought and floods in different parts of the country.

The ruling-Congress party has been advocating strong
measures to check rising prices and provide relief to
common man and party chief Sonia Gandhi had said the issue of
price rise is of the "highest concern to us".

To contain spiralling sugar prices, the Food Ministry
has proposed that the Centre should direct the UP government
to lift the ban on processing of imported raw sugar.

It has proposed to allow UP millers to process imported
raw sugar in some other states as nearly nine lakh tonnes of
raw sugar is lying at ports.

-PTI



First Published: Wednesday, January 13, 2010 - 00:17
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