Govt deals another blow by hiking ghee, sugar, flour prices at USCs
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After dropping the petrol bomb by rising the price by Rs5.40 per litre yesterday, the government on Friday gave another knockout blow to the already economically-pressed people by hiking prices of three basic necessities at the utility stores, reported 24NewsHD TV channel.
Sources said that the Economic Coordination Committee headed by Finance Minister Shaukat Tarin approved a hike in the prices of three basic eatable items. They revealed that the ECC gave approval of Rs17 per kilo increase in sugar price. Now the sugar will be available at Rs85/kg instead of Rs68/kg.
The committee also allowed a rise of Rs150 in the price of 20-kilo sack of flour. Now the 20-kilo flour sack will be available for Rs950 instead of its current price of Rs800.
The ECC also gave approval to the adjustment in the receivables and payables of Wapda, Pakistan Atomic Energy Commission, Neelum Jhelum hydropower project and National Transmission & Dispatch Company (NTDC). This decision will lead to a reduction of Rs116 billion in the circular debt.
The committee gave instructions to continue the next-generation mobile services in Gilgit-Baltistan and Azad Kashmir.
The committee also abolish the attestation fee of the documents of goods imported from Kenya.
Meanwhile, Energy Minister Muhammad Hammad Azhar posted a tweet on Friday eulogizing the ECC’s efforts to start the financial setoff mechanism for Independent Power Projects that would result in the reduction of circular debt to the tune of Rs116 billion.
He said the ECC has today approved the financial setoff mechanism for government owned IPPs. This means that the receivables and payables between government entities have been balanced against each other. This will lead to a reduction of Rs 116 billion in the circular debt stock.
ECC has today approved the financial setoff mechanism for government owned IPPs. This means that the receivables and payables between government entities have been balanced against each other. This will lead to a reduction of Rs 116 BN in the circular debt stock.— Hammad Azhar (@Hammad_Azhar) July 16, 2021
Reporter Waqas Azeem