No subsidy for the poor on five essential items
The Economic Coordination Committee of the Cabinet (ECC) has deferred a decision on providing subsidy to the country's poor on five essential items.
The ECC met under Federal Minister for Economic Affairs Omar Ayub on Wednesday and approved a summary for increasing the margins of oil marketing companies and dealers.
It also approved the summary presented by Ministry of National Food Security & Research to purchase 175,000 tonnes of imported wheat by the World Food Programme (WFP) from PASSCO’s stock for Pakistan and Afghanistan.
However, the ECC deferred decision on the Ministry of Industries’ demand for a Rs5.54 billion subsidy for November 2021 to December 2021 on five essential items.
The ministry had sought Rs1.5 billion for giving subsidy on wheat flour to sell it for Rs47.60 per kg, Rs1.7 billion for ghee to provide the commodity at Rs260 per kg and Rs2.3 billion for sugar to ensure its supply at Rs85 per kg. Another Rs30 million was sought for selling rice at subsidized rates and Rs53 million for selling pulses at prices marginally lower than market rates.
The Ministry of Finance says that despite receiving Rs50 billion in 3 years, the Utility Stores Corporation is facing financial crisis.
The ECC approved the second phase of inclusion of more beneficiaries in Ehsaas Emergency Cash Program, under which new beneficiaries will also be provided Rs12,000 on a first-come first-served basis.