PM Shehbaz Sharif orders crackdown against sugar hoarders

Prime Minister (PM) Shehbaz Sharif has taken notice of inflating prices and ordered a crackdown on sugar hoarding on Friday, ARY News reported.

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

During the meeting, detailed briefings were provided to the prime minister on the current consumption, supply, and pricing of sugar.

PM Shehbaz issued strict directives to take action against those responsible for creating artificial shortages and inflating prices in Pakistan.

Shehbaz Sharif emphasised that sugar hoarding and hypothetical trading to artificially increase sugar prices would not be tolerated.

The prime minister instructed authorities to launch a crackdown on sugar hoarding and profiteers and submit a comprehensive report.

He also directed officials to monitor sugar consumption and supply closely, ensuring transparency and accountability.

PM Shehbaz Sharif assured that the country has an adequate supply of sugar and warned against creating a false crisis.

He stressed that the exploitation of citizens, especially during Ramadan, by profiteering mafias would not be allowed.

The chief secretaries of all four provinces were instructed to ensure the availability of sugar at government-fixed prices across Pakistan.

The meeting was attended by federal ministers, including Azam Nazir Tarar, Rana Tanveer, Ahsan Iqbal, and Ali Pervaiz Malik, along with Special Assistant Haroon Akhtar and other senior officials.

Read more: Sugar price hits Rs180 per kg

Over the past two days, sugar prices have surged by Rs25 per kilogram in several parts of Pakistan, according to market sources.

Just recently, the retail price of sugar stood at Rs155 per kg, but it has now reached a record Rs180 per kg. In Quetta, the wholesale rate of sugar is reported to be Rs175 per kg.

The trend is similar across various cities in Pakistan, where sugar prices have experienced sharp hikes during Ramadan.