LAHORE: The Utility Stores Corporation on Thursday reduced the price of sugar by Rs13 per kilogramme, bringing the new price to Rs140 per kilogramme from Rs153 per kilogramme.
The Utility Stores requested a price reduction from sugar mills on their purchased stock. The mill owners lowered the price by Rs17 per kilogramme. As a result, the utility stores reduced retail prices.
The corporation had initially purchased 12,000 metric tons of sugar at Rs137 per kilogramme. Including additional costs, the total expense amounted to approximately Rs153 per kilogramme.
Separately, The Finance Division forecasted that inflation in Pakistan is expected drop to to 5.5-6.5 per cent by November.
The ministry said in its monthly economic update and outlook report that economic recovery is expected in the coming months.
