The Ministry of National Food Safety confirmed on Saturday that an order has been placed for imports of 200,000 tonnes of sugar to stabilize domestic prices and give consumer relief.
According to the ministry spokesman, this step was taken to ensure the availability of sugar on the market and prevent artificial price increases.
The spokesman added that the sugar is imported by the government and the procurement process has entered its last phase after the opening of bids.
The first shipping of imported sugar is expected to arrive in early September.
It added that the decision to import sugar was made to ensure the availability of the shares in markets and maintain a balance in domestic pricing without burdening national tax.
The officials further stated that the decision to import sugar was made after securing a favorable discount on the international market, which would help maintain balance in domestic prices without burdening national tax.
The government hopes that the influx of imported sugar supports local market stability and limits the inflation trends that affect an important household goods.
Pakistan’s sugar crisis has deteriorated as the markets in Lahore and Islamabad reported serious deficiency, while prices in Karachi, Peshawar and Quetta rose to as high as RS190 per year. Kg, as they defy official pricing caps, The news reported.
In the midst of the escalating crisis, the Federal Minister of National Food Safety and Research was Rana Tanveer Hussain earlier this week, chairman of a high -level meeting with Pakistan Sugar Mills Association (PSMA) and provincial stakeholders warned of “strict supervision” of mill stocks.
With reference to the crisis, Prime Minister Shehbaz Sharif had also warned two days ago that anyone who violated the agreed sugar prices would have a strict act, and emphasized that no one would be allowed to exploit the public financially.
The Prime Minister issued strict directives for enforcing the agreement concluded between PSMA and the government.
According to the agreement, the Ex-Mille Price of sugar is set to RS165 per Kg, while the retail price must not exceed RS173 per Kg.
The federal government repeated its decision to continue to crack down on hamsters and market manipulators.
In another extraordinary step to empty rising sugar prices and braking, the government had taken control of 1.9 million tons of sugar from private mills and placed 18 sugar barons on the exit checklist (ECL), according to the publication.
However, PSMA’s Punjab and Khyber Pakhtunkhwa chapter denied any attack of the stocks of the government.
