Pakistan approves ban on sugar export, gives way to sugar import

Lahore: Keeping in view the shortage of sugar in the country and the rise in market rates of sugar, Prime Minister Imran Khan has approved the proposal to ban sugar export. He has sent the summary to the Economic Coordination Committee (ECC) regarding this.

According to the reports, the export of around 3,50,000 tons of sugar will be stopped after PM’s order. The government will also take steps to import sugar to meet the domestic demand and fill the demand-supply gap.

According to the reports, in Lahore, the retail price of sugar has hiked to Rs 85 per kg and 50 kg sack is being sold at a wholesale price of Rs 4,000. The same scenario is in Karachi, Faisalabad and other cities. People are agitating against the hike in rates and are demanding the government to intervene and act.

The Price Monitoring Committee, in its recent meeting, expressed serious concern at the hike in sugar price. As a precautionary measure, Pakistan has decided to import 300,000 tons of sugar and to impose a ban on its export.

According to sugar traders association, the ‘speculation mafia’ have hiked the sugar price in the country.

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