ISLAMABAD: The federal government has approved the import of 500,000 tonnes of sugar to ensure steady supply and control prices in local markets.
The decision was taken in a recent meeting of the Sugar Advisory Board, chaired by Federal Minister for National Food Security and Research, Rana Tanveer Hussain. Officials in the meeting blamed the unregulated pricing by sugar mill owners as one of the main reasons behind the rising prices.
To address the issue, the board also decided to begin strict monitoring of sugar supply and pricing across the country.
Minister Rana Tanveer said that all necessary formalities for the import will be completed in a few days. He added that the sugar supply shortage in the market made it necessary to take urgent steps, and imported sugar will be brought to the market soon to provide relief to consumers.
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Earlier, the Ministry of National Food Security had stated in a press release that the impression of sugar shortage is incorrect. According to the ministry, under the current deregulation policy, the import, export, and pricing of agricultural commodities are driven by market forces.
The ministry explained that due to high stocks in the last season, sugar was allowed to be exported. However, the current decision to import sugar is aimed at stabilizing prices and ensuring enough supply for public use. The statement added that having additional stock will help keep prices balanced.
It also clarified that agricultural trading depends on crop seasons rather than the fiscal year, and no subsidy was given on sugar exports under the recent policies, unlike in the past.
