Pakistan’s Minister for Industries and Production, Rana Tanveer Hussain, has stated that all required steps will be taken to address the artificial shortage and inflation of sugar.
While chairing a meeting of the Sugar Advisory Board in Islamabad on Friday, he emphasized that the federal government will collaborate with provincial authorities to ensure sugar prices remain at an affordable level.
It was also decided to hold a meeting on Monday to finalize sugar prices for the upcoming Ramadan.
Recently, the Dealers Association had raised concerns about the artificial shortage created by sugar exports, which is driving up prices. They have warned that, if the forces behind this manipulation are not addressed, sugar prices could rise to Rs 170 per kilogram during Ramadan.
In October of last year, the federal cabinet approved the export of an additional 500,000 metric tonnes of sugar, with conditions in place to maintain price stability and ensure sufficient domestic supply.
The approval was granted through a circular, which also set the retail price of sugar at Rs 145.15 per kilogram. If the prices exceed this limit, the government has indicated that exports would be halted immediately, according to one of the conditions.
Additionally, the federal government instructed provincial authorities to keep a close watch on sugar prices, while urging mill owners to ensure that the ex-mill price does not exceed Rs 140 per kilogram.
