06/02/2013 (Daily Times) - In pursuance of its policy to make frequent upward revision in prices of almost essential commodities, Utility Stores Corporation (USC) of Pakistan once again made upward revision in price of Utility brand cooking oil at more than its 150 outlets operating in Karachi.

The decision to enhance price of one of the most essential kitchen item at a ratio of Rs 9 per kilogramme (kg) thus pushing its rate at Rs 164 per kg compared to previous rate of Rs 155 of the same weight.

In January USC had made upward revision in prices of flour and sugar, which spelled financial hardship for majority of consumers hailing from lower segment of the population.

USC has been making upward revision in prices of essential commodities without taking pros and cons of the decision on the meager financial resources of its regular general buyers, complained a buyer at a USC outlet in Gulshan-e-Iqbal.

He blamed the Corporation for making whooping increase in rates of all essential commodities with the sole objective to make overnight financial gains.

In view of money minting design of the Corporation, now hardly any difference can be pointed out between retailers and USC outlets as the rates of essential commodities at both outlets have become at par with each other.

Another buyer at the same USC outlet said the USC was established with the sole objective to provide subsidised items to general consumers belonging to lower segment of the population but it has fast turned into a money minting organisation.

It’s sole objective now appears to be earning whooping financial gains at the cost of interest of poor and helpless buyers majority of which have stopped visiting USC outlets in search of subsidised items, he added.

An official of an outlet of the Corporation in Gulshan-e-Iqbal acknowledged about increase in rates of all varieties of cooking oil having adverse impact on its daily sales.

Like sugar and flour, the fresh enhancement in price of cooking oil was not accepted by the general consumers, already overburdened by the spiral increase in rates of almost all essential commodities.

He termed it on account of upward revision in rates if palm oil in the international market compelling USC high officials to pass on the higher rates to consumers.

Already local major cooking oil manufacturing companies including Habib, Supreme, Tullo, Dalda, Kissand, Meezan and many others have already made an upward revision in prices of their products in the garb of surge in palm oil prices in the international market.

He admitted frequent increase in prices of essential commodities had negative impact on the purchasing power of common man who could now hardly afford their exorbitant price as a consequence a sharp decline was witnessed at all USC outlets in the demand of all affected items.