Saturday September 25, 2021

ECC approves hike in flour, sugar, ghee prices

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet Friday approved an increase in the rates of sugar, wheat flour and ghee at the Utility Stores Corporation (USC) of Pakistan.

The price of sugar was jacked up from Rs68 per kg to Rs85 per kg, ghee from Rs170 to Rs260 per kg and wheat flour from Rs850 per bag to Rs950 per bag at the USC owing to the increasing gap between the subsidised prices offered by the Utility Stores Corporation and the prevailing market prices.

The committee approved revision in the prices of three essential commodities to rationalise provision of subsidies by the USC.

Minister for Finance and Revenue Shaukat Tarin chaired the committee meeting.

The committee also approved import of 200,000 ton sugar, subsidy on DAP fertiliser for cotton and rice crops and procurement of 200,000 cotton bales by the Trading Corporation of Pakistan.