ECC concerned over rising prices of sugar, vegetables and edible oil

Even though inflation has fallen to a nine-year low, the Economic Coordination Committee (ECC) of the cabinet appeared unsure at a meeting on Monday whether it benefited the common people and expressed concern over rising prices of critical kitchen items like sugar, vegetables and edible oil despite declining international prices. The meeting of the ECC, presided over by Finance Minister Muhammad Aurangzeb, decided to set aside a significant amount of compound markup on K-Electric payables to Sui Southern Gas Company (SSGCL) and extended the deadline for settlement of KE and government entities dues through mediation. The meeting approved changes to the Export Finance Scheme to curtail tax evasion in its garb by exporters.