Deputy Prime Minister Ishaq Dar has stated that prices for retail sugar should not exceed Rs 164 per year. Kg of concern about pricing in the sugar market.
DAR’s comments come after the Competition Commission in Pakistan (CCP) warned Sugar Mills against participating in competitive activities that could be further inflated prices reported Express News.
During a press briefing, Senator Dar declared that the prime minister had set up a committee to tackle the issue of sugar prices.
Despite the government’s efforts to maintain sugar prices at Rs 130 per year. Kg, retail prices in some markets have risen over Rs 180 per year. Kg, which causes considerable concern among consumers.
Ishaq Dar explained that the government had held a meeting in the evening to tackle the question and find a way to make sure the common citizen is not facing the awards between RS 180 and RS 200.
“We need to make sure the ordinary man can buy sugar at a reasonable price, but this requires a distribution channel and an implementation mechanism,” Dar said, adding that a subcommittee, led by Minister of National Food Security and Research Rana Tanveer Hussain, would work until April 19 to review the situation and verify Sugar Mills’ requirements regarding price choices.
DAR also dealt with the Federal Board of Revenue (FBR) turnover tax on sugar, where he said it would be charged to Rs 154 to 155 per year. Kg, with a price cap set to Rs 159.
He emphasized the importance of collecting intelligence reports with CCP to monitor the situation and take appropriate enforcement measures.
DAR concluded that the government’s efforts would focus on ensuring fair competition and protecting consumers from utilizing price increases.
Deputy Prime Minister also assured the public that there would be no lack of sugar in the country, adding that 274 supply markets delivered sugar at a price of Rs 130 per year. Kg. He confirmed that any sugar crisis would be avoided.
As for the upcoming sugar crushing season, Dar declared that sugar factory owners would start crushing on time, and from next year the crushing season would start from November 1st. He warned that a strict action would be taken against those who violate the schedule.
