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ISLAMABAD: Utility Stores Corporation has reduced the prices of essential commodities including cooking oil, ghee and others by 10% across Pakistan.
As per the details, the decision comes after the country’s inflation rate fell to single digits, with core inflation as measured by the Consumer Price Index (CPI) hitting a 34-month low of 9.6 percent in August 2024. reached
The price cut, effective immediately, affects more than 800 items, with a reduction of Rs 8 to Rs 200.
The new prices are applicable on various products including tea, soap, noodles, ketchup, tetra pack milk, powdered milk, spices, pickles, soap and toothpaste.
Benazir Income Support Program (BISP) subsidy has been temporarily suspended at the Utility Stores Corporation, with officials promising to restore it soon under a new mechanism.
Meanwhile, the management of Utility Stores Corporation has launched a new strategy aimed at providing excellent service and ensuring the availability of high-quality and affordable products.
The recent decline in inflation is a positive sign for the country’s economy, with CPI inflation falling from 11.1 percent in July 2024 to 9.6 percent in August 2024.
This represents a significant drop from the same month last year, when the inflation rate was 27.4 percent.
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