Govt 'decides' to import 500,000 ton sugar to prevent price hike

ISLAMABAD: The federal government has decided to import 500,000 metric tons of sugar to stabilize prices and ensure availability, ARY News reported citing sources.

According to sources, the decision was finalized during a high-level meeting focused on addressing the sugar supply and pricing issues.

Authorities have also resolved to prevent any price hikes, with strict measures to be enforced against those selling sugar at inflated rates or engaging in hoarding.

Sources indicate that a crackdown will target hoarders and price manipulators to protect consumers and maintain market stability.

The development came after the government ‘decided’ to take strict action against sugar hoarders and speculators.

As per details available with ARY News, Prime Minister Shehbaz Sharif approved a comprehensive crackdown to curb the artificial hike in sugar prices.

Key institutions including the FIA, Intelligence Bureau (IB), Federal Board of Revenue (FBR), State Bank of Pakistan, and others have been granted full authority to act.

Sources further revealed that agencies have been directed to initiate indiscriminate action against those involved in hoarding, artificial price manipulation, and cartelization. The measures will include raids, arrests, and other stern actions.

Authorities have already ramped up operations, and large-scale enforcement actions are expected in the coming days.

Earlier, it is to be noted that Pakistan government allowed sugar millers to export sugar on the assurance of stability of the rate.

Sources said on March 14 that Prime Minister (PM) Shehbaz Sharif took notice of inflating prices and ordered a crackdown on sugar hoarding.

The direction came during a high-level meeting chaired by PM Shehbaz to review sugar prices and the commodity’s supply across Pakistan.