Govt approves import of up to 500,000 MT sugar

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday chaired a committee meeting to assess the sugar situation in the country and evaluate import requirements, ARY News reported.

The committee approved the import of up to 500,000 metric tons of sugar to ensure a stable supply and maintain affordable prices nationwide.

The deputy PM underscored the government’s commitment to price stability and safeguarding consumer interests.

The meeting was attended by the Minister for Food, SAPM Tariq Bajwa, the Secretary Ministry of Food, senior officials from the Ministry of Industries and Production, and industry representatives.

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

As per details, 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.