ISLAMABAD: The ruling Pakistan Tehreek-e-Insaaf (PTI) government has decided to reverse the sales tax on sugar to the ex-mill rate till November 30 this year to ensure reasonable reduction in the price of sugar.
According to details, the decision was taken during a meeting in Islamabad chaired by Prime Minister Imran Khan to review the prices of essential commodities.
During the meeting, the Prime Minister directed the chief secretaries for suitable fixation of prices of essential daily items and to ensure their implementation.
The meeting also decided that the ministries of industries and finance will review the future requirement of sugar and its import. It was also decided to take strict action against negligent concerned officials.
For the fixation of proper price of edible oil, it was decided to frame a system. The prime minister also directed for early finalisation of legislation over the data sharing of necessary daily use items.
ECC approves hike in prices of essential items
On July 17, the Economic Coordination Committee (ECC) of the cabinet approved an increase in the rates of sugar, wheat flour, and ghee at the Utility Stores Corporation (USC) of Pakistan.
The committee approved the revision in prices of three essential commodities: atta (20kg bag) to Rs950, ghee per kilogramme to Rs260 and sugar per kilogramme to Rs85, respectively owing to an increasing gap between the subsidised prices offered by the USC and the prevailing market prices.
The committee approved revision in prices of three essential commodities to rationalise provision of subsidies by the USC.