Qaiser Ahmed Sheikh admits govt failed in controlling sugar prices

ISLAMABAD: Federal Minister for Investment Qaiser Ahmed Sheikh has admitted that the PML-N-led government has failed in maintaining sugar prices in Pakistan.

In an exclusive interview with ARY News, Qaiser Ahmed Sheikh said that despite assurances, sugar prices in the country surged unexpectedly, raising questions about stockpiling and mismanagement.

Sheikh revealed that the cabinet was earlier informed that sugar reserves were available in sufficient quantity and that prices would remain stable.

“For some time, the prices did remain steady, but then suddenly they were raised. Those who have long controlled the sugar industry continue to play their role,” the minister said.

Qaiser Ahmed Sheikh demanded an inquiry into institutions that claimed there was enough stock.

“It must be investigated whether the stock actually existed, and if so, where the sugar went. Since sugar is a daily-use commodity for the common man, there should be a transparent inquiry to determine whether hoarding took place,” Sheikh added.

Admitting the government’s failure, Sheikh said: “The prime minister himself was cautious, yet we could not control the situation. I am a member of the cabinet, but despite that, we failed to regulate the matter.”

On politics, Sheikh remarked about the PTI founder, stating: “Although he does not seem to be actively present at the moment, he remains a significant political figure. He must rise above his ego. Politics requires compromise and reconciliation. Stubbornness alone cannot take politics forward.”