Tag: ghee

  • Over Rs6.4 billion allocated for Ramzan subsidies: Essential items to be available at reduced rates

    Over Rs6.4 billion allocated for Ramzan subsidies: Essential items to be available at reduced rates

    The government has earmarked Rs6.484 billion to provide essential food items at subsidised rates through the Utility Stores Corporation (USC) during the holy month of Ramzan.

    A substantial portion of the allocation, Rs3.474 billion, will go towards subsidising flour, followed by Rs1.610 billion for sugar and Rs1.4 billion for ghee.

    Additionally, subsidies of Rs25 million for channa daal, Rs12 million for masoor daal, Rs37.50 million for white gramme, and Rs62.5 million for basmati rice are planned. Further, Rs20 million and Rs62.5 million are allocated for Sehlla rice and broken rice, respectively.

    The implementation of the Ramzan relief package is set to commence on March 4th.

    Further breakdown reveals Rs200 million for cooking oil, Rs20 million for washed moong daal, Rs6.25 million for washed maash daal, Rs100 million for chakki baisen, Rs50 million for dates, Rs22.50 million for carbonated drinks (1,500 ml), Rs30 million for squash and syrup (800 ml), Rs150 million for black tea, Rs15 million for UHT milk, and Rs50 million for spices.

    Moreover, an allocation of Rs145 million is designated for an awareness campaign through electronic and print media regarding the Ramzan Package, set to kick off on March 4th, 2024.

    The Economic Coordination Committee (ECC) has greenlit the Ministry of Industries and Production’s proposal for a Rs7.492 billion Ramzan Relief Package. This package aims to provide 19 essential items at subsidised rates through the USC.

    In response to IMF restrictions on untargeted subsidies, the government has opted to provide subsidies exclusively to beneficiaries registered under the PMT-40 of the Benazir Income Support Programme (BISP) for the fiscal year 2023–24.

  • Edible oil and ghee prices may decrease soon: Miftah Ismail

    Edible oil and ghee prices may decrease soon: Miftah Ismail

    The price of edible oil and ghee has decreased, according to Finance Minister Miftah Ismail, who expressed hope that the reduced costs will result in a reduction of Rs100 to Rs150 in the price of edible oil in the local market.

    The finance minister expressed optimism about lower petroleum product prices in the near future while speaking at a press conference alongside Bilal Kayani, a member of the Ministry of Finance’s Privatization Committee.

    He claimed that because the price of crude on the international market had dropped to $100, Pakistan’s citizens would “benefit” from lower prices at the “right time.”

    Miftah noted that lower pricing will also result in lower import costs for Pakistan.

    The finance minister continued to criticise the Pakistan Tehreek-e-Insaf (PTI) administration, stating that the previous administration had left an economic minefield but that despite difficulties, the economy was now stabilising and foreign exchange reserves were increasing.

    Imran’s administration left behind a “record trade deficit,” Miftah continued. The finance minister explained the $6 billion loan package for Pakistan from the International Monetary Fund (IMF) and expressed optimism that any outstanding concerns will be handled quickly so that the nation may get the next instalment.

    Additionally, he stated that because wheat prices were stabilising on the global market and that tenders will soon be opened, flour prices would decrease on the local market.

    Due to the fact that Russia and Ukraine are two of the world’s top producers of wheat, wheat prices reached historic highs at the commencement of the Russo-Ukrainian War in February of this year.

    The country’s persistent power shortage was also brought up by the finance minister, who noted that current generation levels are below the necessary 30,000, but expressed optimism that the problem would be resolved in the upcoming weeks.

    He claimed that the PTI government failed to release LNG tenders in a timely manner, which is why there is currently a shortage of liquified gas, and blamed the Imran-led government for the power problem.

    Major LNG producers throughout the world are now supplying Europe with LNG as a result of the continent’s reduction in its reliance on Russian gas, and fuel is in short supply for other consumers.

    The government is vigorously supporting the use of solar energy, Miftah continued, and a nuclear power plant will soon be put into operation.

  • Govt announces Rs3 billion subsidy to provide ghee at discounted rate

    Govt announces Rs3 billion subsidy to provide ghee at discounted rate

    The Minister for Information and Broadcasting Marriyum Aurangzeb announced on Monday that the government would provide a Rs3 billion subsidy to lower the price of ghee to assist the masses.

    She told a press conference that the market price of ghee is currently Rs550 per kg, but it is being sold at Rs300 per kg in utility stores across the country, according to AAJ News

    “The government is bearing a cost of Rs250 per kg,” she added, adding that the price of ghee was Rs150 per kg when the Pakistan Muslim League-Nawaz (PML-N) handed over the office to the Pakistan Tehreek-e-Insaf (PTI) in 2018.

    On the other hand, the government has increased the price of ghee and cooking oil at other retailers.

    She further stated that a 10 kg wheat bag could be purchased for Rs400 at any utility store in Pakistan.

    The minister said that on June 6, about one hundred mobile vans were added to the Utility Stores Corporation (USC) network, citing residents of Khyber-Pakhtunkhwa (KP) having difficulty obtaining discounted items due to limited distribution of utility stores.

    9,500 new utility stores

    “In addition, on June 9, 500 new USC stationary stations were set up to deliver wheat, and 100 more items are being added today,” she stated. “Since June 6, the USC network has grown by 700 units”.

    Price control committees have also been established, according to her, to keep hoarding and reselling of USC materials under check. The availability of items at utility retailers, she said, was also being watched.

    The minister stated that Rs17 billion had been set aside to give the public with low-cost sugar, ghee, and wheat.