Sugar Prices Drop by Up to 8.5%
Utility Stores Cuts Prices After Sugar Mills Reduce Rates
The Utility Stores Corporation (USC) has announced a significant reduction in the prices of sugar across the country. This move comes after sugar mills agreed to lower their rates, allowing the USC to pass on the savings to consumers.
Price Reduction Details
The USC has reduced the price of sugar by 13 rupees per kilogram, bringing the new price to 140 rupees per kilogram. This reduction is effective immediately and offers significant relief to consumers who were previously paying 153 rupees per kilogram at Utility Stores.
Request to Sugar Mills
The reduction follows a request from the USC to sugar mill owners to lower the price of sugar. The sugar mills responded positively, agreeing to reduce their rates by 17 rupees per kilogram. This cooperation has enabled the USC to offer sugar at a more affordable price.
Purchase and Cost Breakdown
The Utility Stores Corporation had initially purchased 12,000 metric tons of sugar at a price of 137 rupees per kilogram. However, after including additional costs, the effective price paid by the corporation was around 152 rupees per kilogram. Despite this, the USC has managed to reduce the consumer price to 140 rupees per kilogram.
Impact on Consumers
This price reduction is expected to provide much-needed relief to consumers, especially those struggling with the rising cost of living. By lowering the price of a staple commodity like sugar, the USC aims to ease the financial burden on households across the country.
Government Initiatives in Agriculture
Wheat and Rice Production
Punjab Chief Minister Maryam Nawaz Sharif has forecasted a significant increase in wheat and rice production in the province. She highlighted a potential 30% rise in wheat output, along with a boost in rice exports, which are expected to reach $5 billion this year.
Off-Season Cultivation
The government is also focusing on the off-season cultivation of crops such as tomatoes and onions. This initiative aims to ensure a steady supply of essential vegetables throughout the year, thereby stabilizing prices and supporting farmers.
Subsidies and Support
To enhance agricultural productivity, the government is providing farmers with subsidized seeds, machinery, and expert guidance. These measures are designed to improve crop yields and support the agricultural sector’s growth.
Conclusion
The reduction in sugar prices by the Utility Stores Corporation is a welcome development for consumers. It reflects successful collaboration between the USC and sugar mills, benefiting households nationwide. Additionally, the government’s initiatives in agriculture promise to further support the economy by boosting production and exports.
FAQs
What is the new price of sugar at Utility Stores?
The new price of sugar at Utility Stores is 140 rupees per kilogram.
How much was the price of sugar reduced?
The price of sugar was reduced by 13 rupees per kilogram.
Why did the sugar mills agree to reduce their prices?
The sugar mills agreed to reduce their prices following a request from the Utility Stores Corporation to help make sugar more affordable for consumers.
What is the expected increase in wheat and rice production in Punjab?
Punjab Chief Minister Maryam Nawaz Sharif has forecasted a 30% increase in wheat production and a significant boost in rice exports, expected to reach $5 billion this year.
What measures is the government taking to support agriculture?
The government is focusing on off-season cultivation of crops, providing farmers with subsidized seeds, machinery, and expert guidance to enhance agricultural productivity.
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