After petrol, Pakistan approves hike in flour, sugar, ghee prices

After petrol, now the price of food items including sugar, wheat flour has been increased in Pakistan, amid its worsening economic situation.The Economic Coordination Committee (ECC) of the cabinet on Friday approved an increase in rates of sugar, wheat flour and ghee (butter) at the Utility Stores Corporation (USC) of Pakistan, reported The News International.The price of sugar was jacked up from Rs 68 per kg to Rs 85 per kg, ghee (butter) from Rs 170 to Rs 260 per kg and wheat flour from Rs 850 per bag to Rs 950 per bag at the USC owing to the increasing gap between the subsidised prices offered by the Utility Stores Corporation and the prevailing market prices.The committee approved revision in the prices of three essential commodities to rationalise provision of subsidies by the USC.The News International further reported that the minister for finance and revenue Shaukat Tarin chaired the committee meeting. The committee also approved the import of 200,000 ton sugar, subsidy on …