ECC approves reduction in flour and sugar prices

The Economic Coordinating Committee (ECC) of Cabinet has approved the revision of flour and sugar prices to provide continued relief to the lower layers of society against global inflationary pressure.

Its meeting was held in Islamabad on Monday under the chairmanship of Finance and Revenue Minister Miftah Ismail.

Under the new arrangement, the price of flour has been reduced from 950 rupees 20 kg to 800 rupees 20 kg, while the price of sugar has been reduced from 85 rupees per kg to 70 rupees per kg.

The meeting also ordered that the rebate of Rs 190 per kg on vegetable ghee be maintained. The government will continue to absorb the cost of the subsidy for the benefit of the common man.

Earlier, the Ministry of Industries and Production submitted a summary of the Atta and Sugar price revision under the Ramzan-2022 relief program.

The committee also ordered the Utility Stores Corporation to continue selling products at Ramzan relief package prices under the Prime Minister’s relief package for the months of May and June 2022.

The meeting enabled PASSCO to procure an additional quantity of 0.50 MMT with the CCL of Rs 28.50 billion and enabled the Punjab Food Department to procure an additional quantity of 1.00 MMT with the CCL of 145 .50 billion rupees as a result of low wheat production in the country due to the failure of the previous government to provide fertilizers to farmers on time. The President said that the Sindh government will be allowed to purchase additional amount of wheat, once it meets the current supply target.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Planning, Development and Special Initiatives Mr. Ahsan Iqbal Chaudhary, Federal Minister for Industries and Production Syed Murtaza Mahmud, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, federal secretaries and senior officers attended the meeting.

Rachel J. Bradford