The ongoing dispute between sugar mill owners and Pakistan government over sugar pricing remains unresolved, as sugar millers have refused to lower prices, ARY News reported on Tuesday, citing sources.
According to reports, the government and sugar millers could not agree on a price, with the millers rejecting the government’s proposal to sell sugar at (Pakistani currency) Rs 140 per kg.
Representatives of the sugar mills have warned that any government intervention to reduce prices could lead to a halt in sugar supply to the market.
At present, sugar is being sold in retail markets at Rs 170 to Rs 175 per kg. Despite government efforts to stabilize prices, there has been no significant reduction.
It is important to note that the Pakistani government permitted sugar millers to export sugar on the condition that prices would remain stable.
As per the media report, On March 14, Prime Minister Shehbaz Sharif took notice of the rising sugar prices and ordered a crackdown on sugar hoarding. This directive followed a high-level meeting chaired by the prime minister to assess sugar prices and the commodity’s supply situation across the country.
During the meeting, detailed briefings were provided to the prime minister on the current consumption, supply, and pricing of sugar. PM Shehbaz emphasized that sugar hoarding and speculative trading, which artificially inflate prices, would not be tolerated. He instructed authorities to take action against those responsible for hoarding and profiteering, and to submit a comprehensive report.
