Govt taking measures to bring down prices of edible oil: Finance Minister


Finance Minister Shaukat Tarin has said the government has decided to extend tax relief to the companies in order to bring down the prices of edible oil by about fifty rupees per kilogram.    

Addressing a news conference along with Minister of State for Information and Broadcasting Farrukh Habib and Special Assistant on Food Security Jamshed Iqbal Cheema in Islamabad on Wednesday, Finance Minister said the wheat is being released at the rate of 1950 rupees per forty kilogram. The price of sugar has been notified at eighty nine point seventy five rupees per kilogram.

He said the government is taking steps to provide direct cash subsidy to the marginalized segments of the society on sugar, flour, ghee and pulses. He said this program to be launched next month will benefit 12.50 million households which is about forty to forty two percent of the whole population.

Shaukat Tarin said efforts are also afoot to reduce the big profit margins of the middlemen. He said we are trying to revive price control committees which will benefit the common man. He said strategic reserves of essential commodities are also being built to ensure price stability and prevent profiteering and hoarding. 

The Finance Minister said Kamyab Pakistan Program is being launched by the end of this month to uplift the weak segments of the society. He said this program will provide easy loans for businesses and in the agriculture sector.

Farrukh Habib said the government has not fully passed on the impact of increase in international prices of essential commodities to the masses. He said effort has been made to extend relief to the people.   He said the world has appreciated Pakistan's handling of Covid-19.

Jamshed Iqbal Cheema said our oil, wheat and sugar prices are lowest in the region.

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