'Sugar at Rs70 per kg': Sharif family's mills decide to reduce prices

LAHORE: The mills owned by the Sharif family have decided to reduce the prices to sell sugar at Rs70 per kilogram, citing sources, ARY News reported on Saturday.

Sources said that a team of the Punjab Chief Minister Hamza Shahbaz held talks with the Sugar Mills Association and recommended them to sell sugar at Rs70 per kilogram.

The association has been given 24 hours to make a final decision, sources added.

Earlier, Prime Minister Shehbaz Sharif had ordered a complete ban on the export of sugar in order to stabilise price of the commodity in the country.

According to the Prime Minister’s Office, PM Shehbaz Sharif had also ordered taking stringent measures against the smuggling of sugar.

READ: MINISTRY REFUTES NEWS OF INCREASE IN SUGAR PRICE

Taking to Twitter, the prime minister announced that he had directed sternly dealing with hoarders, illegal profiteers and the elements involved in creating an artificial shortage of sugar.

Given the domestic demand, I have ordered a complete ban on the export of sugar. There will be a strict action against smuggling & hoarding. Absolutely zero tolerance for those found negligent in their duties.

— Shehbaz Sharif (@CMShehbaz) May 9, 2022

The premier had also asked the departments concerned to keep him informed about the implementation of his orders.

The officer concerned and staff will be held accountable for any negligence, he told the meeting.

It is pertinent to mention here that the federal government made a similar announcement last month, saying the ban would drop sugar prices and provide relief to the people.

The government claimed that the export ban would lessen the prices and provide relief to the people.