Sugar price still above Rs. 100 per kg in Faisalabad

Staff Report

FAISALABAD: The price of sugar has yet not been reduced in Faisalabad and still it is being sold above Rs. 100 per kg in the shops and markets.

According to details, during last many days an artificial shortage of sugar has started in the markets of the city while local authorities’ made all sales points are usually closed within two hours after end of the daily supplied sugar.

The local people desperately circle daily, around the Utility Stores and the sales points, in a vain hope to get some sugar on the reduced rates.

The troubled and annoyed people of Faisalabad have demanded the government to take an immediate action for the removal of the artificial sugar shortage, created by the sugar hoarders, as they desperately need it to mix with the milk to feed their children. Trend Pk

Sugar price mounts up by Rs.20 per kg in Hyderabad

Staff Report

HYDER ABAD: The price of sugar has been mounted up by Rs.20 per kilogram, in just last twenty days, in the second largest city of Sindh, Hyderabad.

Earlier, just twenty days back the sugar was being sold on Rs.70 per kg and currently it has gone up to Rs.90 per kg in Hyderabad.

The sugar hoarders have also turned active while the poor and the middle class people have been severely troubled by this stunning price hike of the sugar.

The majority of Utility Stores have also stopped providing subsidized sugar to the local residents which creates more problems for the commoners.

The troubled residents of Hyderabad have demanded that the on going sugar price hike shall be controlled immediately and a permanent stability shall be brought in prices. SAMAA

US says troop numbers in Iraq at 56,000

WASHINGTON: The U.S. troop strength in Iraq is 56,000, a senior Obama administration official said on Wednesday evening, correcting his earlier statement the troop level was down to the 50,000 level Washington has targeted for the end of the month.

“I had incorrect information,” the official said.

NBC News reported earlier on Wednesday night that the last U.S. combat troops had left Iraq. An NBC reporter traveling with the 4th Stryker Brigade drove through the night and arrived in Kuwait just before 4 a.m. local time on Thursday, with TV footage showing the convoy rolling through the border gates and the gate shutting as the last vehicle passed through.

That report set off a flurry of media interest in the drawdown, which will be a milestone in the seven-year war launched under Republican President George W. Bush.

But it appeared that even if a combat

Clinton to pledge more US aid for Pakistan at UN

WASHINGTON: US Secretary of State Hillary Clinton will announce extra aid for a flooded Pakistan Thursday at a UN meeting that will mobilize international support for the country, her spokesman said.

The chief US diplomat will speak to the UN General Assembly in New York about “the humanitarian situation from the floods in Pakistan,” spokesman Philip Crowley told reporters.

The general assembly, expected to meet around 3 pm, “will be an opportunity to express solidarity and to further mobilize support of member states and the international community for the situation in Pakistan,” he said.

During her visit to New York, Clinton will also meet with both UN Secretary General Ban Ki-moon and Pakistani Foreign Minister Shah Mehmood Qureshi, Crowley said.

“And at tomorrow’s meeting we expect that she will update and announce an increase in the US assistance

UNSC reduces prices of 200 food items

Staff Report

ISLAMABAD: The Utility Stores Corporation (USC) has reduced the prices of 200 food items by 10 percent as per the orders of Prime Minister Yousuf Raza Gilani, said sources on Thursday.

According to sources, Prime Minister Syed Yousuf Raza Gilani has ordered to decrease the prices of food items at all utility stores to ease the miseries of the common man during the month of Ramazan.

USC has reduced the prices of several food items including ghee, cooking oil, pulses, milk, dates and other edibles.

Sources said the government will provide utility stores a subsidy of Rs. 5 billion over the reduction of food prices. SAMAA

Every family to get 5 kg sugar from utility stores

ISLAMABAD: The Managing Director of Utility Stores Corporation Muhammad Arif said subsidy of Rs 3 billion would be given at different edible items during the month of Ramzan.

While talking to Geo News, Muhammad Arif said that every will get at least 5 kg sugar at subsidies rates. Replying to a question, MD Utility Stores said utility stores will provide maximum facility to public during Ramzan.

This year’s Ramazan to see 3 different rates of sugar

KARACHI: Sugar will be sold at three different rates to the people during this year’s holy month of Ramazan.

For the first time in the country’s history, government will supply sugar at two different rates while the third rate will be the one prevalent in open market at which people will have to buy sugar after failing to get it at the previous two rates. The third rate will be Rs70 a kilogram or more.

So this Ramazan will witness people struggling to get sugar at Rs55 after standing in long queues before the Utility Stores and in case of failure they will have to head toward ‘Sasta Bazars’. The third and final option will be the open market where they will be sure to get the commodity but at highest rates.

This year’s sugar production was 1.2 million tones less than the country’s requirement. It was in this context that the government decided to import the commodity.

Sikander backs mill owners against sugar price hike

KARACHI: Throwing his support at the back of sugar mill owners against rise in prices, the Chairmen All Pakistan Sugar Mill Owners (APSMO) Sikandar Khan has said Friday the sugar prices would witness stability in local market in case TCP could have imported approximately 12.50 lacks tonnes of sugar on time.

Talking to Geo news, he said sugar imported by TCP is not only sold to Utility Stores but it is also sold in local market.

Hafeez ignorant enough to see causes of inflation

ISLAMABAD: Finance Minister Dr. Abdul Hafeez Sheikh has said wheat and sugar prices have declined by 45 and 40 percent respectively all over the world, but he expressed ignorance over causes of alarming price hike of such basic amenities in Pakistan, Geo news reported.

He also sought proposals from finance ministry officials in regard to extend relief to people and to solve food crisis in Pakistan. The Economic Coordination Committee (ECC) which met under chairmanship of Dr. Abdul Hafeez Sheikh concluded its meeting in no results.

ECC on Tuesday rejected the proposal to export two million tons of wheat at reduced rates, saying the government was not interested in benefiting foreign consumers, a senior official who attended meeting told Geo news.

Under the proposal of the Punjab government, two million tonnes of wheat was to be exported. But this would entail a loss of Rs 27 billion in subsidy, as the wheat price in the international market is much lower than in Pakistan.

Many ECC members were of the opinion that instead of benefiting foreign consumers, the same amount be distributed at subsidised rate through the Utility Stores to benefit the poor. Another proposal that came under discussion was that this wheat be distributed among the poorest of the poor through the Benazir Income Support Programme (BISP).

The ECC has constituted a three-member committee comprising secretary finance, secretary food and agriculture and secretary commerce, which will submit its recommendations in a week on how to handle the surplus 2 million tonnes of wheat in a manner that benefits the poor.

To a question, the official said that the Punjab government had procured 10.7 million tons of wheat as against its capacity to store 6.5-7 million tonnes of the commodity. Some wheat is stored in private stores but two million tonnes of wheat is surplus.

The meeting noticed that sugar prices in internal market had fallen by almost 50 per cent during the last four months. Similarly, the wheat prices in the world market fell by 45 per cent, from $300 down to $190 per tonne.

The ECC, which met under the chairmanship of Finance Minister Dr Hafeez A Shaikh, also discussed the import of sugar but the official refused to give any information about it except saying that the government wanted to provide maximum benefit to the people.

The issues of fixing of POL price by oil marketing companies and refineries and import of LNG through the Mashaal Project have been deferred till Thursday. An official press release said the ECC was briefed on the key economic indicators. It was told that various economic indicators had shown signs of improvement. The Quantum Index of Large-scale Manufacturing (QIM) registered a positive growth of 4.5 per cent during July-April 2009-10, against negative growth rate of 8.2 per cent during comparable period last year.

The trade deficit improved by 9 per cent to $13.9 billion in July-May 2009-10 from $15.3 billion in the same period last year. The workers’ remittances amounted to $8,064 million in July-May 2009-10 as against $7,076 million over the same period last year, showing an increase of 14 per cent.

Regarding the World Bank loan for reconstruction of berth 15 to 17 A and SRB’s 1 2 at the Karachi Port, the ECC decided that the proposed World Bank loan be lent to the KPT at a rate of 8.2%. The loan shall be repaid by the KPT in US dollars over a period of 30 years.

The ECC was informed that during July-May 2009-10, the average CPI-based inflation stood at 11.6 per cent as against 21.6 per cent in the same period last year.

Heavy rains lash Karachi, 9 dead

KARACHI: Karachi received the first heavy spell of rain on Saturday night and in afternoon due to tropical cyclone PHET, while the next spell is expected to hit later in the evening.

At least nine people including two women died due to rain related incidents mostly due to electrocution. Many areas were without electricity. Rescue teams were busy in restoring civic facilities.

Hospitals of Sher Shah, Baloch Colony, Bin Qasim Town, Nazimabad, City Railway Colony and Burns Road areas received many of the bodies.

According to Met Office, its observatory at PAF Base Masroor recorded a downpour of 133 millimeters, Faisal Base 92 mm, Saddar 84 mm, North Karachi 86 mm and Karachi Airport 77.1 mm.

Meanwhile, the sanitary staff of City District Government Karachi has started the efforts to flush out water from low lying areas in the city. CDGK teams were seen busy in various parts of city on Sunday morning along with water suction trucks and de-watering pumps to siphon out rainwater at the roundabouts, beneath underpasses and overhead bridges.

However, water was still stagnated in large part of the city as intermittent downpour continued in the metropolis.

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