Sugar mill owners has attributed this price hike to a production shortage rather than exports.
LAHORE: (UrduPoint/Pakistan Point News-Sept 1st, 2023) The price of sugar once again surged, reaching Rs180 per kg in certain areas, making it increasingly unaffordable for the general public.
Sugar mill owners attributed this price hike to a production shortage rather than exports.
The Pakistan Sugar Mills Association (PSMA) officials revealed that the country is left with only two million metric tons of sugar, far below the required 9.5 million metric tons for the upcoming crushing season.
Despite a production surplus, the government allowed the export of only 0.25 million metric tons.
Former Finance Minister Ishaq Dar dismissed concerns over the sugar stock, stating that monthly consumption was just over half a million metric tons, and there would be an additional one million metric tons available at the start of the crushing season in mid-November.
Ishaq Dar also criticized exploitative business practices and poor governance for the rising retail prices, rather than the actual stock situation. He highlighted that the PDM government had permitted the export of only 250,000 metric tons of sugar, generating $125 million in foreign exchange.
Meanwhile, the Frontier Corps (FC) intercepted four truckloads carrying over 150 tons of sugar in Mastung district, Balochistan, as part of efforts to curb smuggling.
Caretaker Interior Minister Sarfraz Ahmed Bugti ordered the activation of joint checkpoints and patrols to combat sugar and fertilizer smuggling, emphasizing its adverse impact on the economy and people's livelihoods.
Bugti warned of strict action against those involved in cross-border smuggling and called for regular reports from Khyber Pakhtunkhwa and Balochistan governments on the issue.
