The Utility Stores Corporation (USC) has announced a big price cut on important items like cooking oil and ghee. This is great news for the people of Pakistan as prices have been reduced by 10%. The decision was made after Pakistan’s inflation rate dropped to 9.6% in August 2024, the lowest in 34 months. This price reduction will help families manage their daily expenses more easily.
| Item | Price Reduction |
| Cooking Oil & Ghee | 10% |
| Tea | Reduced |
| Noodles & Ketchup | Reduced |
| Soap & Toothpaste | Reduced |
Table of Content
New Cooking Oil Prices at Utility Stores
The price of cooking oil has been a concern for many households in Pakistan due to high inflation in recent months. USC has responded to this by reducing the prices of cooking oil and ghee by 10%. This is a huge relief for people who use these essential items every day. Along with cooking oil, other products such as tea, noodles, ketchup, soap, and toothpaste have also seen price cuts. This decision is expected to make basic kitchen items more affordable for the average consumer.
Benefits of Price Reduction Latest Update 2024
This price reduction is directly related to the decrease in inflation, which has been brought down to single digits. With inflation dropping from 11.1% in July 2024 to 9.6% in August 2024, USC took the initiative to lower prices on over 800 items. The most significant reductions are on kitchen staples like cooking oil and ghee. Families can now buy these products at a lower cost, which will help them save money in the long run.
Here are the benefits of this price cut:
- Affordable prices for cooking oil and ghee
- Reduced household expenses for essential items
- Relief for families struggling with inflation
- More savings for other necessary expenses
Impact on Pakistan’s Economy
The reduction in prices at utility stores comes at a time when Pakistan’s economy is improving. The inflation rate dropping to 9.6% is a positive sign for the country. This improvement is especially noticeable compared to last year, when inflation was at a high of 27.4%. The decision to lower prices will help stabilize the economy further by making essential goods more affordable. The government is working to provide relief to citizens through measures like these, and it is hoped that the economy will continue to improve in the coming months.
Changes to Benazir Income Support Program (BISP) Subsidy
While prices have been reduced, the Benazir Income Support Program (BISP) subsidy has been temporarily suspended at USC outlets. This subsidy helps low-income families buy essential goods at lower prices. However, officials have assured the public that the subsidy will be restored soon under a new framework. Once restored, this subsidy will provide even more financial support to families in need, allowing them to buy goods at a more affordable rate.
USC’s New Strategy
With this price reduction, USC is introducing a new plan to offer high-quality products at low prices. The focus is on improving customer service at utility stores and making sure that essential goods are accessible to everyone. This new strategy will also help create a better shopping experience for customers. USC is committed to helping people by keeping prices low and providing good service at all their stores.
Also Read: Punjab Cabinet Approves Major Projects Led by CM Maryam Nawaz
Conclusion
The decision to reduce prices on cooking oil and other essential items is a much-needed step to provide relief to the people of Pakistan. With inflation rates decreasing, USC has made the right move by lowering prices, allowing consumers to buy daily necessities at a lower cost. Although the BISP subsidy is temporarily suspended, the overall efforts to support low-income households continue, and the public can expect further improvements in the coming months. This price cut is a positive sign for Pakistan’s economy and is a welcome relief for families across the country.