ISLAMABAD: The Utility Stores Corporation (USC) has announced a significant cut in ghee-cooking oil prices across the country.

The price reduction, effective immediately, is expected to bring some relief to consumers who have been facing financial strain due to the rising costs of essential food items.

According to USC spokesperson the corporation has reduced the prices of various brands of ghee and cooking oil have been slashed.

According to the spokesperson, the price of branded ghee such as Dalda has been slashed by Rs 69 per kg, providing consumers with a substantial cost reduction. Additionally, the price of cooking oil has been reduced in the range of Rs 18 to Rs 76 per liter.

Over the past five years, the prices of ghee and edible oil have witnessed significant increases owing to global situation as well as Pak rupee depreciation against dollar, making them more expensive for the average household. Therefore, this reduction in prices is likely to be seen as a positive development for those who regularly purchase these products from over 4,000 USC outside and mobile outlets established across the country especially in urban areas.

The USC is a government-owned retail chain that provides subsidized food items to the public. As a result, only a portion of the population who choose to buy their groceries from USC outlets will directly benefit from these reduced prices.

Copyright Business Recorder, 2023