ECC okays Rs7.8bn Ramazan package for Utility Stores

Ramazan package

The government has approved the Ramazan package for Utility Stores of Rs7.8 billion, increased the commission for oil companies and their dealers on sale petroleum products, and allowed the cotton import from Afghanistan and the Central Asian Republic through the Torkham border.  

On Wednesday, the Economic Coordination Committee meeting was held which was supervised by Dr. Abdul Hafeez Shaikh, Finance Minister. The meeting allowed and approved some major aspects. It approved the Rs7.8 billion worth of Ramazan package for Utility Stores along with the increase in the commission for oil companies and their dealers on sale petroleum products. Also, allowed import of cotton through Torkham Border,  

The Ramzan package, presented by the Ministry of Industries & Production was in accordance with the directives of the Prime Minister to provide maximum relief to marginalized segments of the society. Utility Stores Corporation will have to sell 19 essential items, including wheat flour, sugar, ghee, oil, pulses (channa, moong, maash), baisen, rice, tea, milk etc. at subsidized rates. 

Read More: Utility Stores Corporation records Rs 100 billion annual turnover in 2020

Initially, the total quantum of Ramadan Relief Package-2021 was Rs6.3 billion, with Rs100 million for a media campaign. Later it was enhanced and increased to Rs7.8 billion. 

However, the USC officials in the meeting also took notice of the prices which increase during the month of Ramzan due to artificially orchestrated price hike and black marketing. 

The ECC also allowed the provision of subsidized natural gas to two Punjab-based fertilizer plants, Fatima and Agritech, for almost 9 months with an additional subsidy of Rs2bn to Sui Northern Gas Pipelines Limited.  

Likewise, instead of the existing rate of Rs2.81, Rs2.98 on the sale of each liter of petrol and diesel will be charged by the OMCs. As such, dealers will charge Rs3.92 per liter on petrol, instead of Rs3.71, and Rs3.31 on diesel, instead of Rs3.12. 

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