The recent surge in sugar prices has drawn the attention of the Ministry of National Food Security & Research, which has attributed the price hike to nefarious activities such as smuggling and hoarding. In a bid to curb these practices and stabilize sugar prices, the government has taken decisive action.
Government’s Call for Sugar Prices Regulation
The Ministry of National Food Security & Research has not only acknowledged the concerning rise in sugar prices but has also called upon provincial governments to take immediate steps to regulate sugar prices to ensure that consumers are not subjected to unjust price hikes and maintain market stability.
Furthermore, the ministry has urged provincial authorities to enforce the law rigorously and to take strict actions against hoarders and price manipulators exploiting the market for personal gains. By cracking down on these practices, the government hopes to alleviate the panic that has gripped the market.
Addressing the concerns regarding a potential sugar import, the ministry clarified that there are no plans to import sugar, contrary to misinformation being circulated. The statement also highlighted that a letter from the Trading Corporation of Pakistan on this matter is being misconstrued.
The ministry explained that it had previously set the price of sugar at Rs. 98.82 per kg in April 2023 under the provisions of relevant legislation. However, this pricing decision was suspended by the Lahore High Court (LHC), and the status quo has been maintained as per the court’s order.