Prices of essential items higher at Utility Stores

The prices of essential items at Utility Stores are higher than the rates in the open market, ARY News reported on Monday.

As per details, the report issued regarding the prices of grocery items stated that the price of sugar is Rs 155 in Utility Stores where the price in the open market stands at Rs 135.28 which is Rs 19.72 less than in utility stores.

Similarly, the price of a 20 kg flour bag is Rs 2840 at Utility Stores whereas in the open market, the price is Rs 2820.34 which is Rs19.66 less than in Utility Stores.

Earlier, Utility Stores Corporation (USC) procured 40,000 metric tons of sugar at Rs124.90/kg.

Read more: Utility Stores Corporation ‘procures’ 40,000 metric tons sugar

Sources privy to the development said the Utility Stores Corporation procured the 40,000 metric tonnes of sugar as per the tender issued last month.

The sugar was procured at Rs10.37/kg cheaper rate as compared to the last tender issued by the corporation, the sources said, and after adding the expenses the sugar will cost Rs138 to them.

It is pertinent to mention here that Pakistan’s weekly inflation, as measured by the Sensitive Price Indicator (SPI), witnessed an increase of 1.16 per cent during the week ending on November 23, the Pakistan Bureau of Statistics (PBS) data showed.

According to data released by PBS, the combined index was at 311.78 compared to 308.2 on November 30, 2023, while the index was recorded at 218.52 a year ago, on December 08, 2022.

The yearly SPI has stayed above the 40% mark for the fourth consecutive week, following a noteworthy hike in gas prices.