The rise in Sugar and Oil Prices Despite the Relief Package – Research Snipers

The rise in Sugar and Oil Prices Despite the Relief Package

relief package

For curbing the ever surging inflation in the country, the federal cabinet gave approval to the Rs.10 billion relief package for the Utility Stores Corporation (USC) for 5 months.

This means that the government would be providing Rs.2 billion on a per month basis until June this year for ensuring an uninterrupted supply of the edible commodities at all the utility stores across the nation at subsidized rates.

But, the package seems to have the entire opposite effect as the prices of the items like oil, ghee and sugar have surged at the utility stores.

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Back in the month of January, when PM Khan gave approval to a Rs.6 billion package for the USC, sugar was being sold at Rs.68 per kilogram at the utility stores, in comparison to Rs.80 in the market. In the same way, the prices of oil and ghee were decreased by Rs.15-20 per kg to Rs.170.

On Tuesday the Assistant to PM on Information announced that the cabinet has taken the decision of increasing the prices of these items.

She told media that now the sugar would be available at Rs.70 per kg at the utility stores while a 1 kg pack of oil and ghee would be available at Rs.175.

The Managing Director of the USC had refused about surging the prices. While answering to a question at a news channel, he said that the corporation had not yet received any notice and that the prices would not be revised until there is any official word regarding it.

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