ECC Approves a PKR 5 billion Ramzan Aid Package
Islamabad: On March 2, news media claimed that the Economic Coordination Committee (ECC) has authorized a PKR 5 billion Ramzan Relief Package for the United Stores Corporation (USC).
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In a meeting chaired over by Finance Minister Ishaq Dar, the ECC adopted a hybrid model of targeted and untargeted assistance package for Utility Stores Corporation. The Ramzan Relief Package summary was presented by the Ministry of Industry and Production, and the ECC considered and approved it. According to sources, the government will give targeted subsidies worth PKR 1.15 billion to persons enrolled in the Benazir Income Support Program (BISP) and untargeted subsidies worth PKR 3.84 billion on a variety of goods such ghee, tea, flour, sugar, milk, drinks, dates, and gram flour.
It is significant to remember that Ramadan, which begins on March 22, is rapidly approaching. Nonetheless, the inflation rate has risen to a record high of 32% in the month of February and is anticipated to do so further amid an impending increase in interest rates.