Deputy Prime Minister Mohammad Ishaq Dar has expressed satisfaction with the recent decline in sugar prices in the market and has directed the Pakistan Sugar Mills Association (PSMA) to ensure full compliance to the agreement that sets the maximum retail price at Rs 164 per kg nationwide.
An informal survey conducted by Business Recorder in the Islamabad/Rawalpindi markets found that sugar is still being sold at prices ranging from Rs 170 to Rs 180 per kg. In response to rising concerns over sugar prices, Deputy Prime Minister and Foreign Minister Ishaq Dar led a high-level meeting to review the market situation and the government’s efforts to stabilize prices and ensure affordability for consumers.
The meeting focused on ensuring that the terms of the previous agreement between the government and the PSMA, which fixed the maximum retail price at Rs 164 per kg, are being fully complied with. Dar expressed his satisfaction with the recent downward trend in sugar prices, attributing it to effective market monitoring and the enforcement of regulatory measures.
During the meeting, Dar reiterated the government’s commitment to actively overseeing sugar supply and price regulation across the country, with the goal of ensuring affordable prices for the public.
Ishaq Dar directed the PSMA and relevant authorities to uphold the price cap and prevent any market manipulation. He emphasized that the government would continue to monitor the situation closely through an ongoing monitoring mechanism.
The recent sugar price crisis in Pakistan has been driven by a combination of supply chain disruptions, hoarding, speculative trading, and lower-than-expected production. Over the past few months, sugar prices had surged to as high as Rs 180-190 per kg. However, government intervention has helped mitigate artificial shortages, regulate price fluctuations by enforcing agreements with sugar mills, and crack down on hoarding.
