News
Tuesday, July 27, 2010
Sugar price at USC outlets increased by Rs10/kg
ISLAMABAD: The government has increased the price of sugar by Rs 10 per kilogramme (kg) to Rs 55 per kg at all Utility Stores Corporation (USC) outlets with immediate effect, sources told Daily Times on Monday. The decision was taken by the ministerial committee set up by the Economic Coordination Committee (ECC) in a meeting held under the chairmanship of the minister for industries and production. The committee decided that the sugar price differential in the open market and at USC outlets would not be more than Rs 10 per kg in Islamabad, Lahore and Karachi. The sources said the meeting was informed that the Trading Corporation of Pakistan (TCP) was yet to receive billions of rupees from the Finance Ministry against subsidies provided on sugar at USC outlets. Senior officials of the ministry informed the meeting that the government did not have funds to provide the subsidy to the TCP, and in order to pay the amount, the government had to either cut the PSDP allocation or reduce salaries of government employees. The committee also decided that the provinces would get 100,000 tonnes of imported refined sugar each from the TCP. ijaz kakakhel
Courtesy www.dailytimes.com.pk