Tuesday, June 18, 2024
Business

Prices of ghee and oil have risen in utility stores ahead of Ramadan

Prices of ghee and oil have risen in Utility Stores across the country ahead of the holy month of Ramadan, according to a notification released on Friday. The price of cooking oil has been raised from Rs.6 to Rs.9 per litre, while the price of ghee has been raised by Rs.7 per kg, according to the notification.

According to the notice, Utility Stores has raised the prices of branded ghee and oil, with the new rates taking effect immediately. In a recent survey, the Pakistan Bureau of Statistics stated that inflation in the country had reached a seven-month high, rising to 9.05 percent in March. According to reports, Prime Minister Imran Khan ordered concerned authorities not to raise ghee prices in Utility Stores across the country last month. Following the prime minister’s rejection of the price hike, the finance minister, according to sources, backed the prime minister’s decision.

The Economic Coordination Committee (ECC) had previously approved a price increase of Rs.30, but following Prime Minister Imran Khan’s directives, the commodity will be sold at Utility Stores for Rs.170 per kg instead of Rs.200. Separately, the ECC approved a Ramadan package worth Rs.7.6 billion after a meeting chaired by then-finance minister Abdul Hafeez Shaikh.