ECC approves Rs7.8 billion for Utility Stores

The government on Wednesday approved Rs7.8 billion for the Ramzan Package for Utility Stores. The decision to approve the package was taken in a meeting of the Economic Coordination Committee - ECC of the cabinet presided over by Finance Minister Dr. Abdul Hafeez Shaikh.

The ECC approved the revision of the commissions and margins on the basis of 85pc of the latest average core inflation with immediate effect and directed the Pakistan Institute of Development Economics to conduct a study as soon as possible. 

Therefore, the ECC also issued a summary of ‘Ramazan Relief Package-2021’ on the instructions of the prime minister to provide relief to the marginalized parts of the society during the holy month of Ramazan. The Utility Stores Corporation (USC) would subsidise 19 essential items under the relief package, entailing a subsidy of about Rs7.8bn.

Moreover, the meeting was informed that prices of wheat flour, sugar and ghee had significant differential face to face prevailing prices in the domestic market. It was told that procurement of essential items would start from April 1 to ensure their availability at discounted prices through 4,000 USC outlets across the country.