Sugar rates in Pakistan continue to rise due to shortage of commodity in market

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Islamabad: The prices of sugar continue to rise in the domestic market despite the government’s attempt to reduce the sugar prices and increase the sugar supply in the domestic markets.

The provincial governments have blamed that the sugar mills are hoarding the sugar creating artificial shortage of the commodity that is leading to hike in sugar rates.

Hammad Azhar, the Minister for Industries and Production said that the government is considering abolishing import duties on raw sugar to ensure that the adequate sugar is available in the country at an affordable rate. We will forward a report to the Economic Coordination Committee (ECC) to take action in this regard, he said.

We will install cameras in sugar mills to keep check on the sugar stock and prohibit hoarding.

Iskander Khan, chairman, Pakistan Sugar Mills Association (PSMA) has written a letter to Prime Minister Imran Khan highlighting that the sugar and jaggery is being smuggled to Afghanistan and Central Asia and urged the government to keep check on it to ensure sufficient sugar is available at local markets.

The PSMA also wants the government to implement the Gur Control Act, 1948 that permits only 25% of the sugarcane for jaggery production.

Fareed Qureshi, Karachi Retail Grocers Group Chairman said, “The sugar rates have been hiked to Rs 95 per kg with wholesale prices at Rs 90 per kg. The prices may rise to Rs 100 per kg.”

The sugar advisory meeting under leadership of Minister of Industries Hammad Azhar failed to find out any solution to keep check on the price rise.

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