The ECC permitted price drops for flour and sugar.
The Cabinet’s Economic Coordination Committee (ECC) has approved the modification of flour and sugar prices to provide ongoing assistance to the lower strata of society from global inflationary pressure.
Minister for Finance and Revenue Miftah Ismail presided over the meeting, which took place in Islamabad on Monday.
The flour price has been decreased from 950 rupees 20 kg to 800 rupees 20 kg under the new arrangement, while the sugar price has been reduced from 85 rupees per kg to 70 rupees per kg.
The meeting also decided to keep the 190-rupee-per-kilogram discount on vegetable ghee. The government will continue to cover the expense of the subsidy.
The Ministry of Industries and Production had already presented a summary on the modification of Atta and Sugar prices under the Ramzan Relief Package-2022.
The committee also instructed the Utility Stores Corporation to continue selling commodities at Ramadan relief package pricing for the months of May and June 2022 under the Prime Minister’s Relief Package.
In the wake of low wheat production in the country due to the previous government’s failure to provide fertilizers to growers on time, the meeting allowed PASSCO to procure an additional quantity of 0.50 MMT with a CCL of 28.50 billion rupees and the Punjab Food Department to procure an additional quantity of 1.00 MMT with a CCL of 145.50 billion rupees. The chair stated that the government of Sindh will be permitted.
Syed Naveed Qamar, Federal Minister for Commerce, Ahsan Iqbal Chaudhary, Federal Minister for Planning, Development and Special Initiatives, 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.
