Prime Minister Imran Khan has announced a 40 percent targeted subsidy for the poor for basic food supplies.

Speaking about the Rs 1.400 billion poverty reduction initiative under Kamyab, Pakistan Program, the prime minister said the low income class will receive ongoing support for the procurement of wheat, flour, sugar and vegetable oil.

According to him, 75 percent of the country’s palm oil is imported, and that is why citizens are faced with the consequences of high cooking oil/ghee prices as it is imported inflation.

He said the government is currently doing everything it can to ease the burden of inflation on the shoulders of the people.

He said prices in Pakistan have risen by only 22 percent compared to 100 percent global inflation.

He said that world market prices for wheat and sugar rose 37-40 percent, compared with 12 and 21 percent in Pakistan.

Khan said that Pakistan’s gasoline price is the lowest in the world, excluding oil-producing countries, and that neighboring India sells gasoline at twice the price.

He said the government cut gasoline and sales taxes and therefore incurred a 400 billion ruble loss to make life easier for end consumers.

The prime minister said Kamyab Pakistan is working to improve the life of the common man.

He thanked Finance Minister Shaukat Tarin for providing microfinance opportunities for low-income groups, saying this reflects the government’s commitment to raising the bar for the poor.

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