We are not passing on the interational commodity rates to consumers in Pakistan, said federal finance minister Shaukat Tarin speaking to media on Tuesday as he claimed the prices of sugar and wheat soared 41 and 32 per cent internationally but in Pakistan the effect was only 11 and 15 pc respectively, ARY News reported.
It has been our constant slogan that farmers should get international rates for their crops, and we have as our responsibility to hike the agriculture production, Shaukat Tarin said. He added that despite being an agricultural economy we import pulses, wheat and vegetable oil.
Due to Covid outbreak in Pakistan, said Tarin, our over all production tumbled, supply chain got effected and even inflation hiked to about 17.1 pc in the July 2020 period.
But now inflation is set to stay around 8 pc only, he said.
About 40- to 45 pc population belonging in the lower income class will get the targeted subsidy, he said. We did not have the data before but we have it now thanks to Ehsas Program.
Separtely for concessional measures taken yesterday, the cabinet body on energy approved a concessional power tariff for consumers during the winter season spanning over November 2021 to February 2022.
The meeting headed by Federal Planning and Development Minister Asad Umar decided that a concessional power tariff that would also include K-Electric consumers would be offered during four months of winter- 01 November 2021 to 28 February 2022.
The meeting also directed the petroleum division to provide a mechanism for gas pricing from November to February.