ISLAMABAD: The government on Friday gave another shock to the already economically-pressed people by raising prices of three basic necessities at the utility stores after raising the price by Rs5.40 per litre of petrol yesterday. Sources said that the Economic Coordination Committee headed by Finance Minister Shaukat Tarin approved a hike in the prices of three basic eatable items which included Rs17 per kilo increase in sugar price, a rise of Rs150 in the price of 20-kilo sack of flour and an astounding Rs90 per kg hike in the price of ghee. The ECC also adjusted in the receivables and payables of Wapda, Pakistan Atomic Energy Commission, Neelum Jhelum hydropower project and National Transmission & Dispatch Company (NTDC) which will lead to a reduction of Rs116 billion in the circular debt. The committee gave instructions to continue the next-generation mobile services in Gilgit-Baltistan and Azad Kashmir. The committee also abolished the attestation fee of the documents of goods imported from Kenya. Meanwhile, Energy Minister Muhammad Hammad Azhar posted a tweet on Friday eulogizing the ECC’s efforts to start the financial setoff mechanism for Independent Power Projects that would result in the reduction of circular debt to the tune of Rs116 billion. He said the ECC has today approved the financial setoff mechanism for government owned IPPs. This means that the receivables and payables between government entities have been balanced against each other. ECC has today approved the financial setoff mechanism for government owned IPPs. This means that the receivables and payables between government entities have been balanced against each other. This will lead to a reduction of Rs 116 BN in the circular debt stock. — Hammad Azhar (@Hammad_Azhar) July 16, 2021