Pakistan: Big blow to Pakistani people facing an economic crisis, public suffering due to increased oil and ghee prices

Even after the change of power in Pakistan, inflation is not taking the name of decreasing. Rising inflation has loosened the pockets of the citizens of Pakistan. Meanwhile, on Wednesday, the Government of Pakistan has given a big blow to the citizens. Ghee and cooking oil rates have been increased by Rs 208 and Rs 213 in Pakistan from Wednesday. This announcement has been made at a time when the country is going through an economic crisis for the last several years.

Ghee-oil became expensive

Confirming this, an official of the Utility Stores Corporation (USC) said that the price of edible oil and ghee is at an all-time high of Rs 555 per kg and Rs 605 per liter. Which was earlier Rs 540-560 per kg. Pakistani newspaper Dawn quoted a USC official as saying that the USC had issued a notification of a huge jump in the prices of ghee and cooking oil from June 1. However, the reason for the increase was not mentioned.

According to the report,

According to Dawn's report, Pakistan Vegetable Manufacturers Association (PVMA) general secretary Umar Islam Khan was quoted as saying that the retail rates of ghee and cooking oil will soon come down to USC prices. He said manufacturers of cooking oil and ghee have stopped giving products on credit to USC, as the corporation has not cleared the dues of Rs 2-3 billion to the manufacturers.

The growing problem of Pakistani people

Speaking about the supply of palm oil from Indonesia to Pakistan, Omar Islam said that the Prime Minister's Task Force Committee has been constituted on the supply of palm oil. Which officials of the concerned ministries and office bearers of PVMA are involved and daily meetings are also being held to analyze the supply situation. He said shipments booked at higher rates and massive rupee depreciation have pushed up the landing cost. Due to this, the rates of ghee and cooking oil have come down from US$ 1,900-2,000 per tonne to US$ 1,700, despite a fall in the rate of Indonesian palm oil.

The PVMA, in its circular dated May 27, had informed its members to pay transportation charges for their consignment of edible oil to NLCs/private tankers. Which had gone up by only 22.50 percent to Rs 174.67 per liter after a jump of Rs 30 in diesel.

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