The Cost of Living Committee is scheduled to meet today and arrive at a decision on whether to increase the prices of milk powder and LPG.
“The Cost of Living Committee is to reach a decision today on increasing the prices of LPG and milk powder,” Finance Ministry Information Director M. Ali Hassen told Daily FT.
According to him, the LPG-importing companies have requested the Government to increase the price of a 12.5 kg LPG cylinder by Rs. 254, while the importers of dairy products have urged to increase the price of 1 kg of milk powder by Rs. 100.
He, however, said that the Government will not increase at the demanded prices by the importers and manufacturers.
The Daily FT learns that the committee will consider increasing the LPG price, as the world market prices have soared notably. Nevertheless, the Consumer Affairs Authority (CAA) has not found the reasons of Rupee devaluation and the grounds that they run at a loss as a good justification by importers of dairy products to increase the price of milk powder.
Hassen said a decision in this regard will be reached during discussions at today’s meeting and if given approval, the price increase will be informed via a gazette notification. (CdeS)