Islamabad:

On Wednesday, the government set the retail price for sugar for RS164 per year. Kg, which is 13% higher than the pricing when exporting 600,000 tonnes of sugar was allowed. This adaptation benefits mills by enabling them to harvest double bonanza and earn higher revenue from both local and international markets.

The decision was made by a committee of 10 members led by Deputy Prime Minister Ishaq Dar. The committee decided the new ex-factory and retail prices on sugar after negotiations with Pakistan Sugar Mills Association (PSMA), a unit accused of serving as a cartel of the country’s antitrust watchdog.