Islamabad (HRNW) The Economic Coordination Committee approved on Monday to reduce the prices of sugar and flour prices as the government to absorb the cost of subsidy.
Price of a 20kg bag of flour has been reduced from Rs950 to Rs800, while per kg price of sugar has been reduced to Rs70. Earlier, it was set at Rs85/kg.
The ECC meeting, chaired by Federal Minister for Finance and Revenue Miftah Ismail, also ordered that discount of Rs190/kg on vegetable ghee to be continued.
On a summary submitted by the Ministry of Industries and Production on continuation of Prime Minister’s Relief Package 2020 for the months of May and June, 2022, the meeting decided since the the Utility Store Corporation (USC) already has the stock to of the necessary commodities to be sold at Ramazan Relief Package rate, the USC will continue selling commodities at discounted rates.
The Ministry of National Food Security & Research tabled a summary for procurement of additional quantity of Wheat for PASSCO and Punjab Food Department with cash credit limits to build up strategic reserves and to stabilize local wheat market.
PASSCO and Punjab have already met their wheat procurement targets of 1.20 Million Metric Tonnes (MMT) and 3.5 MMT, respectively.
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