ECC satisfied over ‘sufficient stocks’ of sugar during Ramazan

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

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 Ramazan.

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 around ten days ago, the ECC had approved a Ramzan 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 Ramzan.

Among the items which would be sold out at subsidized rates at Utility Stoles included 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 Ramzan Relief Package 2018.

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