Government to stabilize prices of commodities in Utility Stores Corporation: Advisor to Prime Minister


Islamabad: Muhammad Basharat Raja, Advisor to Prime Minister for Industries has said that the government will soon devise a suitable mechanism to stabilize the prices of commodities in the Utility Stores Corporation of Pakistan (USC). He said that the abrupt rise in prices in the open market affect the prices at USC but the new price-determining mechanism will ensure that this increase will not have an adverse effect on the prices at USC.

The Advisor was of the view that provision of commodities of daily utility at cheap rates through USC is the foremost priority of his leadership so that common man may get respite from the soaring prices in the open market. He stressed that the basic principle of USC is to provide commodities to the customers at a comparatively better rate than the open market. He said that as USC is not a manufacturer itself but buys items from open market and charges nominal profit to bear its overhead expenditure therefore any fluctuation in the open market rates is bound to affect the rates at USC but the new price determining mechanism will ensure that these adverse effects are minimized.

Mr. Basharat added that despite the recent price hikes in the open market the retail prices at USC are still 5 to 10% less than the open market. He ensured that the USC will strictly adhere to its policy of facilitating the common man by providing quality, graded, hygienically fit, unadulterated genuine food and non food items to the public and especially to the poorer segments of the society at comparatively cheaper rates than the market.

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