MoF releases Rs10bn for Utility Stores Corporation

ISLAMABAD: The Ministry of Finance has released Rs10 billion for Utility Stores Corporation (USC) as part of the government scheme to protect the vulnerable sections from inflationary impact.

In a statement on Tuesday, USC Managing Director Omar Lodhi said that a total of Rs50 billion has been allocated for utility stores, of which Rs10 billion has been released by the finance ministry.

Lodhi said that with a significant difference between market rates and USC prices, the number of customers at USCs has increased manifold.

“Subsidised sugar is being sold at Rs67 per kilogramme at utility stores, whereas its rate in the open market is above Rs80 per kg,” he highlighted.

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He said that market intervention by the USC under the current scenario has led to record sales of Rs2.30 billion during the first four days of this month.

Lodhi said that people with low income have expressed confidence in the quality of goods and service at utility stores.

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