ISLAMABAD: The federal government has announced to ban the export of sugar, saying the ban would drop sugar prices and provide relief to the people.
According to details, the decision was made in the session chaired by Prime Minister Shehbaz Sharif. The government claims that the export ban would lessen the prices and provide relief to the people.
Sources say that the ban would be in place for the rest of the year, the country has enough reserves to fulfil its needs for the rest of the year. The Prime Minister has decided to ban sugar exports despite having excess reserves.
In a statement issued by the Ministry of Industry and production, the govt had clarified that the price of sugar has not been increased. The news reports about the increase are false, there has not been such a change in prices as mentioned in the reports.
They added that government teams surveyed markets in Lahore, Karachi and Islamabad and made sure that the retail price for sugar is Rs85 per kg and the wholesale price is Rs82 per kg.
The government has taken notice of stores that were reported to be selling sugar at Rs94 per kg, and adequate action will be taken against those involved.
The government had also made carrying CNIC compulsory to shop at any utility store, the step had been taken to avoid bulk buying by a few people and to provide all people with the opportunity to buy at the utility stores.