ISLAMABAD, August 15, 2024 – The Economic Coordination Committee (ECC) of the Cabinet, under the leadership of Federal Minister for Finance and Revenue Muhammad Aurangzeb, has approved the continuation of the Prime Minister’s Relief Package for the fiscal year 2024-25 through the Utility Stores Corporation (USC).
This decision, made during the ECC meeting held on Thursday, comes with revised prices and adjusted subsidies to better serve the public during challenging economic times.
According to a press release issued by the Ministry of Finance, the proposal to extend the relief package was presented by the Industries & Production Division. The Prime Minister’s Relief Package, initially launched to provide essential commodities at subsidized rates to the underprivileged segments of society, will continue to offer support, albeit with revised pricing structures aimed at ensuring sustainability and reaching a broader segment of the population.
The ECC’s approval reflects the government’s commitment to cushioning the economic impact on the lower and middle-income groups amidst rising inflation and cost of living. The revised package is expected to address the essential needs of the public, particularly in procuring staple items such as flour, sugar, and cooking oil at more affordable rates.
In addition to the relief package, the ECC granted approval to a significant proposal from the Ministry of Industries & Production to recognize the Warehousing and Logistic Sector as an industry. This move is anticipated to boost the sector’s development, attract investment, and enhance the efficiency of supply chain management across the country.
The meeting was attended by several key figures, including Minister for Industries & Production, Rana Tanveer Hussain; Minister for Commerce, Jam Kamal Khan; Minister for Privatization, Abdul Aleem Khan; Deputy Chairman Planning Commission, Federal Secretaries, and senior officials from the relevant ministries.
The continuation of the Prime Minister’s Relief Package at USC, along with the recognition of the Warehousing and Logistic Sector as an industry, underscores the government’s strategy to stimulate economic growth while providing necessary relief to its citizens. These measures are part of a broader agenda to stabilize the economy, support vulnerable groups, and promote industrial expansion in critical sectors.
The ECC’s decisions mark a pivotal step in addressing both immediate economic concerns and long-term industrial development goals, reinforcing the government’s resolve to navigate the nation through ongoing economic challenges.
