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Government to device mechanism for price stabilization at USC.

ISLAMABAD, June 25, 2011 (Balochistan Times): Advisor to Prime Minister for Industries, Muhammad Basharat Raja here on Friday said that government will soon devise a suitable mechanism to stabilize the prices of commodities of the Utility Stores Corporation. He said that the abrupt rise in prices in the open market affect the prices at USC but the new price-determining mechanism will ensure that this increase will not have any adverse effect on the prices at USC. The Advisor was of the view that provision of commodities of daily utility at cheap rates through USC is the foremost priority of his leadership so that common man may get respite from the soaring prices in the open market. He stressed that the basic principle of USC is to provide commodities to the customers at a comparatively better rate than the open market.USC is not a manufacturer itself but buys items from open market and charges nominal profit to bear its overhead expenditure therefore any fluctuation in the open market rates is bound to affect the rates at USC, he added. The Advisor said that new price determining mechanism will ensure that these adverse effects are minimized. Basharat Raja said that despite the recent prices hike in the open market the retail prices at USC are still 5 to 10 percent lesser than the open market. He ensured that the USC will strictly adhere to its policy of facilitating the common man by providing quality, graded, hygienically fit, unadulterated genuine food and non food items to the public and especially to the poorer segments of the society at comparatively cheaper rates than the market.

(THROUGH ASIA PULSE)
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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Jun 25, 2011
Words:275
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