Minister evaluates PBS’ data collection, analytical techniques

F.P. Report

ISLAMABAD: The Federal Minister for Finance and Revenue, Shaukat Tarin on Monday had an introductory meeting with Secretary Planning, Development and Special Initiatives/Chief Statistician, to evaluate the current techniques of data collection and analysis used by the Pakistan Bureau of Statistics (PBS).

According to press statement issued by the Finance Minister, the minister assigned the PBS to adopt a practice of regularly comparing the difference in wholesale and retail prices of essential food items in different districts across the country.

PBS would highlight the difference in prices in different provincesas well, the minister said adding that the data, if available on real time basis on the PBS dash-board, would help maintain strategic reserves of the essential commodities across the country.

The meeting of National Price Monitoring Committee (NPMC) is expected to take place within a week’s time and PBS shares its data analysis report in the upcoming meeting of NPMC.

The Minister appreciated the technology based data gathering techniques followed by the Bureau after doing away with the paper based approach and directed them to follow such methods that could further assist in making the data more objective, targeted and authentic for the purpose of comparison and analysis.

He said addressing the root cause of inflation with devising a new hierarchy of administrative control would provide the most needed relief to the masses.
Earlier, the Chief Statistician gave a detailed briefing to the new Minister on evidence based data collection techniques followed by the Bureau in compiling figures particularly for Consumer Price Index (CPI) and Sensitive Price Indicator (SPI).

The Chief Statistician also apprised the Minister of the changes they were about to introduce in the system to make it more comprehensive.

The meeting was attended by Special Assistant to Prime Minister on Revenue Dr. Waqar Masood, Member PBS Muhammad Sarwar Gondal, Economic Adviser Dr. Imtiaz Ahmad and senior officials of Finance Division.