Ghee and Cooking Oil Prices Drop Across Pakistan
The Utility Stores Corporation has announced a reduction in the prices of essential items, including cooking oil and ghee, by up to 10% nationwide.
This price cut follows a decrease in the country’s inflation rate, which fell to a single digit with the Consumer Price Index (CPI) reaching a 34-month low of 9.6% in August 2024.
The Benazir Income Support Program (BISP) subsidy at Utility Stores Corporation has been temporarily suspended, but authorities have assured that it will be reinstated under a revised procedure soon.
The Utility Stores Corporation is also implementing a new strategy to enhance service quality and ensure the availability of high-quality, affordable goods.
The recent inflation drop is a promising indicator for the economy, with the CPI rate decreasing from 11.1% in July 2024 to 9.6% in August 2024, marking a substantial decline from 27.4% in the same month last year.
