Pakistan: Increased sugar consumption during Ramdan leads to sufficient stock levels

Pakistan: Increased sugar consumption during Ramdan leads to sufficient stock levels

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ISLAMABAD: On Tuesday, the Economic Coordination Committee (ECC) expressed contentment over the availability of sufficient sugar stock during Ramadan and noted that 4.35 million metric tons was available with monthly consumption of 0.433 MMT per month in Pakistan.

Prime Minister Shahid Khaqan Abbasi chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the PM Office, that considered a report of Ministry of Commerce on availability of sugar during the Ramadan.

The ECC also accorded ex-post facto approval for an amount of Rs. 7.34 billion, paid during the previous years to Oil Marketing Companies against their Price Differential Claims (PDCs) in order to provide relief to consumers through subsidizing imported petroleum products. These claims have been duly verified and audited, a statement from the PM Office said.

Earlier, almost ten days ago, the ECC had approved a Ramadan Relief Package 2018 worth Rs 1.73 billion to subsidize the prices of 19 daily use items to be provided at Utility Stores Corporation during the holy month of Ramadan.

Among the listed items which would be sold out at lower rates at Utility Stoles included the following: flour, sugar, cooking oil, ghee, grams, gram flour (besan), dates, rice, squashes, milk and tea.

The government will provide a subsidy of Rs. 1,733 million under the Ramadan Relief Package 2018.

During the meeting, the prime minister directed that under the Ramadan package, daily use items should be provided at subsidized rates than the market.

 

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