IN what could be termed as a major relief to the consumers, the Utility Stores Corporation has significantly reduced the prices of all brands of ghee and cooking oil from Rs 5 to Rs 76 per kilo/litre. The country mostly meets its edible oil demands through imports and over the last five months or so, there had been a constant decline in their prices in the international market. In fact the reduction announced by the USC would have been far better, if our currency had not depreciated this much.
Anyway, the reduction in the edible oil prices is welcoming news for the consumers who have been braving the price hike over the last almost two years. The USC’s administration deserves appreciation for passing on the relief to the people. We believe this will also have an impact in the open market as the retailers will be forced to follow the suit. The very purpose of the establishment of the USC was also to provide essential items to the consumers at less rates compared with the market and it is important that the organization continues to serve this purpose because of which it will attract maximum consumers and see a major boost in its revenues. The people are often seen complaining about the quality of utility stores and we hope that the current administration will also look into the genuine complaints. As new mega stores have seen mushroom growth in recent times, the USC whilst ensuring quality of products will have to equip itself with the modern technology to maintain its consumer base. Of late, it has been good to see the USC putting in place the digital solutions which not only will help it better manage demand and supply but also increase customer convenience. At the same time, we will also ask the provincial governments to activate the price control committees and to take strict action against hoarders and profiteers. This will really help bring stability in the prices of essential commodities.
