MOIP measures in place to control sugar hoarding, price hike

• The national average retail prices continuously showing rising trend in the market despite of crushing season was in process.
• Price Control and Prevention of Profiteering and Hoarding Act 1977 has been delegated to Provincial Governments in 2006.
• Government of Punjab fixed the retail price of Sugar at Rs70 per kilogramme (kg) utilizing powers under the Price Control and Prevention of Profiteering and Hoarding Act, 1977.

ISLAMABAD: Ministry of Industries and Production (MOIP) has written letters to the provinces of Khyber Pakhtunkhwa and Punjab to take effective measures against sugar hoarding and price hike in their respective domains.

According to the ministry’s official memorandum, the undersigned was directed to refer to Sugar Advisory Board (SAB)’s meeting held on January 28, in which sugar stocks and prices were discussed in detail.

During SAB meeting, it said, the representatives of Punjab and Khyber Pakhtunkhwa governments informed that due to overall decline in sugarcane production this year, production of sugar was expected to decline in current crushing session.

The national average retail prices continuously showing rising trend in the market despite of crushing season was in process, it added.

Moreover, during current price hike l&P Division again wrote a letter to the provincial chief secretaries with the request to control recent price hike in the country.

As per the details, it said, “Price Control and Prevention of Profiteering and Hoarding Act 1977 has been delegated to Provincial Governments in 2006. The administration of this act has been also transferred to the Interior Division to the extent of Islamabad Capital Territory (ICT). During the SAB meeting held on October 29, 2019 Secretary (Industries and Production-I&P) also discussed rising prices of sugar and afterwards wrote a letter to Provincial Chief Secretaries for controlling of hoarding and profiteering in their respective provinces.”

In the light of the above mentioned, consequently government of Punjab fixed the retail price of Sugar at Rs70 per kilogramme (kg) utilizing powers under the Price Control and Prevention of Profiteering and Hoarding Act, 1977 in all its districts.

Similarly, Khyber Pakhtunkhwa government took serious action against profiteering and hoarding of sugar in the province.

Furthermore, a notification was also issued by MOIP to Commerce Division to approach Economic Coordination Committee (ECC) of the Cabinet after the SAB meeting decided discontinuation of export quota of sugar.

The notification was in the light of the meeting decisions in which it was decided that Commerce Division should approach ECC of the Cabinet to stop remaining export quota from 1.1 Million tons allocated quota for exports vide ECC decisions in case No. 96/19/2018 and case No. 143/29/2018 dated October 02, 2018 and dated December 04, 2018 respectively.