FM announces subsidy on atta, sugar, ghee, pulses

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ISLAMABAD  : Finance Minister Shaukat Aziz (FM) while announcing to afford cash subsidy on atta, ghee, sugar and pulses has said wheat release price has been reduced to Rs 1900 and the prices of atta will decline remarkably within a few days.

He announced to provide subsidy while addressing a press conference here along with other federal ministers Tuesday.

Expressing concern over rise in vegetables prices he said that all from farmer to retailer are determining the prices. Ehsas program data has reached under which we will provide targeted subsidy in the current month. Earlier we were affording subsidy on gas and electricity. Now we will give subsidy on atta, ghee, sugar and pulses. The atta prices will witness fall in the coming few days.

He went on to say the national economy is improving. The rupee value decreased for approaching IMF on our part.

After upswing in the prices of potato, tomato, onion and other edibles at local level we will have to review whether we have to export the vegetables or otherwise which are selling at higher cost in the markets. We have become linked to the international prices.

He underlined we will have to review how much cultivator of the vegetables and retailers get benefit. Surely this benefit is enormous.

The farmer does not earn profit equal to retailer. We are carrying out scientific engineering to make this process transparent.

We will have to conduct study of all the processes from cultivation to sale in the market that what percentage of profit is being earned by those involved in the process individually.

The prices of commodities have scaled up all over the world due to corona virus, he held. The supply of goods has been affected due to coronavirus and it has left negative impact.

Not only in Pakistan but all over the world the inflation has accelerated, he pointed out. We will have to increase production to stabilize the prices, he said adding sugar prices have risen to 430 dollar per ton in international market.