Islamabad: Prime Minister Shehbaz Sharif has voiced strong disapproval over the sharp increase in sugar prices, prompting the Ministry of Production to summon sugar mill owners and major dealers for an urgent meeting in Islamabad tomorrow, reports Aaj TV.
Government sources say the administration’s decision to allow sugar exports has hurt its credibility. A written agreement with sugar mill owners and dealers kept prices stable.
However, despite this agreement, sugar prices surged from Rs124 to Rs170 per kilogram after export approvals were granted under commitments made by the Sugar Mills Association.
Authorities have begun reviewing records of sugar mills, and officials have compiled a list of market manipulators. Investigations are underway to identify those responsible, and legal action will be taken against anyone involved in price manipulation.
Meanwhile, the Federal Investigation Agency (FIA) has launched a crackdown in multiple cities, including Faisalabad and Lahore. Several sugar dealers have been arrested, and officials have seized records as part of the probe. I will need more details as the investigation continues.
Breaking News: NFCSF reduces sugar production forecast to 259 lakh tonnes for 2024-25 season
For more details and in-depth insights, keep reading ChiniMandi, your go-to source for the Latest Sugar News on the Sugar and Allied Sectors.
