The Punjab government announced on Friday that it will leverage artificial intelligence (AI) to regulate prices across the province. The initiative aims to enhance market stability by employing AI to predict and monitor price fluctuations.
As part of this effort, a forecast bulletin will be introduced to help stabilize market rates by providing timely insights into potential price shifts. The government is also establishing an Agricultural Monitoring Fund to oversee the initiative and ensure effective implementation.
In a meeting chaired by Punjab Chief Minister Maryam Nawaz, the new institution tasked with price control was discussed in detail. The chief minister instructed that the institution be fully operational within six months, emphasizing the importance of rapid mobilization to achieve the intended results.
Moreover, the Punjab government plans to reduce its dependence on imported palm oil by promoting the local cultivation of alternative crops. To this end, efforts will focus on increasing the production of sunflower, soybean, and canola. These crops are seen as viable substitutes for palm oil, which would not only support price stability but also enhance agricultural self-sufficiency in the region.
The AI-driven approach represents a significant shift in how Punjab manages market dynamics, with the government optimistic that it will lead to more efficient price control, benefiting both consumers and farmers.
