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Here’s how you can get essential food items at subsidised rates

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Under Prime Minister Shehbaz Sharif’s relief package, essential food items will be provided at subsidised rates at the Utility Stores Corporation (USC) outlets across the country from today (Sunday).

Keeping in mind the difficulties and problems faced by the people, PM Shehbaz announced the provision of targeted subsidies on basic food items through USC. These items include flour, sugar, ghee, rice and pulses.

Consumers enrolled in the Benazir Income support Programme (BISP) are eligible to get food items at subsidised rates from the USC outlets.

The corporation has asked its all customers to SMS their CNIC numbers from their mobile phones to 5566 and they will receive a one-time password after which they can avail subsidy and purchase items.

In June 2022, the premier decided in principle that the government would provide flour, ghee, cooking oil, pulses, rice and sugar at low prices during the fiscal year 2022-23.

Details of the package

For the registered consumers with BISP, the essential food items will be available at the following rates:

  • Flour — Rs400 per 10 kg bag
  • Ghee — Rs300 per kg 
  • Sugar — Rs70 per kg

Meanwhile, Rs15 to Rs20 will be saved on rice and pulses per kg, however, the monthly purchase limit for the consumers is also fixed.

According to the purchase limits, a consumer would be able to purchase 40kg of flour, 5kg of sugar and 5kg of ghee monthly, besides, all other consumers of Utility Stores Corporation will also be provided subsidies on these five food items under the relief package.

For the other consumers, the prices will be as follows:

  • Flour — Rs648 per 10kg bag
  • Ghee — Rs375 per kg 
  • Sugar — Rs 89 per kg

Whereas, a Rs15 to Rs20 per kg discount on the purchase of pulses and rice will also be provided to consumers other than those registered with BISP.

The monthly purchase limit for these consumers is also set according to which they can buy 20kg of flour, 3kg of sugar, and 3kg of ghee.

For the people of Khyber Pakhtunkhwa, the flour will be provided for Rs400 per 10 kg bag at all the sales points and mobile stores established on the instruction of the prime minister.

Business

Changes in the US dollar’s value are directly correlated with variations in gold prices.

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The price of 24-karat gold in Pakistan increased by Rs1500 on Thursday, reaching Rs231,000 per tola. This was another jump in the price of gold in the country.

Dealers reported a comparable surge in the price of 10 grams of 24-karat gold, which is currently trading at Rs198,045 after rising by Rs1285. In addition, the cost of ten grams of 22-karat gold increased significantly, trading at Rs 181,541.

These fluctuations are strongly correlated with shifts in the US dollar’s value, demonstrating the tight connection between gold prices and exchange rates. This emphasizes how local gold markets are impacted by variables related to the global economy.

At Rs2,580, the price of 24-karat silver remains steady right now. The price of gold increased significantly on a global scale as well, rising by $14 to $2,214 per ounce.

It’s critical to understand that changes in the worldwide market can have a substantial impact on gold prices in Pakistan throughout the day. The gold rates that are offered are obtained from reliable sources, mostly situated in Karachi and Multan.

It is recommended that individuals seek the advice of nearby gold merchants and jewellers for the most precise and current information regarding gold prices.

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Pakistan pledged to finish building the TAPI gas pipeline.

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The minister discussed the importance of the TAPI gas pipeline project for Pakistan’s energy needs during a meeting with Turkmenistan’s ambassador to Pakistan, Atadjan Movlamov.

The Minister was congratulated by Ambassador Movlamov on taking office and his commitment to the project was noted.

Dr. Musadik Malik thanked the ambassador for his kind words, acknowledged the support, and promised to maintain the two nations’ friendship. The intergovernmental commission and working group meetings for the project this year were briefed by Atadjan Movlamov.

He invited the Minister to attend the Turkmenistan Energy Forum, which would take place in Paris the following month.

TAPI undertaking
The project is for the construction of a 1,680-kilometer pipeline with a 56-inch diameter that can carry 3.2 billion cubic feet of gas per day (bcfd) from Turkmenistan through Afghanistan and Pakistan to the border between Pakistan and India.

According to the terms of the TAPI agreement, Afghanistan would receive its portion of 0.5 billion cubic feet of gas per day, while Pakistan and India will each receive 1.325 billion cubic feet of gas per day.

In order to carry out the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, Pakistan and Turkmenistan inked a cooperative implementation plan in Islamabad on June 4.

Prime Minister Shehbaz Sharif and a delegation from Turkmenistan, led by Minister of Energy and Water Resources Daler Juma’a, were present at the ceremony.

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Business

The price of gold is still rising in Pakistan.

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According to the All Sindh Sarafa Jewellers Association, the cost of 10 grams of 24 karat gold grew by Rs. 86 to Rs. 196,760 from Rs. 196,674, while the cost of 10 grams of 22 carat gold jumped to Rs. 180,363 from Rs. 180,284.

The price of silver per tola and ten grams stayed at Rs. 2,211.93 and Rs. 2,580, respectively.

According to the Association, the price of gold on the global market rose by $7 to $2,200 from $.2,193.

It is important to note that Pakistani and IMF personnel have agreed at the staff level on the second and final review conducted as part of Pakistan’s Stand-By arrangement.

The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on the second and final review of Pakistan’s stabilization program, which is supported by the IMF’s US$3 billion (SDR2,250 million) SBA Agreement. This is according to the official statement released by a team led by Nathan Porter.

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