‘No sugar shortage’: Dar caps retail price at Rs164 per kg

Deputy Prime Minister and Foreign Minister Ishaq Dar announced on Wednesday that the retail price of sugar would remain at Rs164 per kg while its ex-mills price would be capped under Rs159 per kg.

The minister chaired a meeting to review sugar prices during which measures to control prices were also assessed.

The minister said that there was no sugar shortage in the country, nor will there be one, adding that there was a spike in sugar prices to Rs178 -179, “which was not tolerable”.

Meanwhile, a sub-committee headed by Minister for National Food Security and Research Rana Tanveer Hussain will submit its feedback within one month to determine costs of sugar.

Last week, Prime Minister Shehbaz Sharif formed an Inter-Ministerial Committee (IMC) to examine regional models for the import of raw sugar for re-export of refined sugar.

The committee was tasked with developing a strategy to address the ongoing sugar pricing issue.

The PM also directed the authorities to launch a crackdown against hoarders and individuals involved in price manipulation.

While taking notice of the sugar price hike and artificial shortage of the commodity, PM Shehbaz said that no one would be allowed to manipulate prices and create an artificial shortage of the daily-use sweetener during the holy month.

He stated that the government would not accept any form of speculation or hoarding that unjustly inflates sugar prices.