USC purchases 50,000 metric tons of sugar under PM's package

ISLAMABAD: The federal government has purchased 50,000 metric tons of sugar under Prime Minister’s (PM) package, citing sources, ARY News reported on Wednesday.

The Utility Stores Corporation (USC) purchased 50,000 metric tons of sugar under PM’s package at the price of Rs78 per kilogram, sources told ARY News. After overall expenditures, the new stock of sugar will cost Rs82 per kilogram to the USC.

The USC officials said that the stock of sugar will be sold at Rs70 per kilogram under the PM package. The difference in cost will be borne by the federal government through its planned subsidy on sugar.

It is noteworthy to mention that the price of per kilogram sugar was fixed at Rs70 at the USC under the same relief package.

READ: PM SHEHBAZ SHARIF IMPOSES COMPLETE BAN ON SUGAR EXPORT

Targeted subsidy on essential commodities

In June, PM Shehbaz Sharif had decided in principle to provide flour, ghee, cooking oil, pulses, rice and sugar at a low price to the poor segment of society in the next financial year 2022-23. He had approved the expansion of the state-owned Utility Stores Corporation (USC) network in Karachi.

The premier had asked the authorities concerned to present a comprehensive plan to increase the number of utility stores in Karachi within two weeks. PM Sharif had also directed to make the subsidy system transparent and digital. He ordered to create a comprehensive system by combining various types of subsidies.

The meeting was briefed that under the relief package of PM Shehbaz Sharif, 113 million deserving people have benefited so far. They have been given targeted subsidies of 60 rupees per kg on flour, 21 rupees on sugar, 250 rupees on ghee and 15-20 rupees on pulses and rice. The subsidy mechanism is digital, whereas, NADRA and the Ministry of Poverty Alleviation are linked to the data, the participants were told.