Islamabad:
The faults of the sugar export policy have been exposed, resulting in an increase in sugar prices. The government now plans to import sugar to float on the market and stabilize prices.
The prices of sugar on the market have gone from RS159 per kg to RS170 per kg, with experts warning that prices could reach 200 rupees per kg.
Earlier, the government enabled the export of sugar, a decision that sparked criticism. Even the president of the sugar export monitoring committee, Musadik Malik, was withdrawn from the committee due to the pressure of sugar minors.
The government had linked sugar exports to the stabilization of prices on the local market. However, while prices were starting to increase following the export of sugar, the chairman of the committee urged the Prime Minister to revoke the sugar export quota.
Now the government feels the heat of the sugar export decision while prices on the local market continue to climb. In response, the Prime Minister ordered the importation of gross sugar to stabilize the market, further stressing the defects in the export policy.
A high -level committee trained by Prime Minister Shehbaz Sharif was responsible for conducting a detailed study on the effects and procedures for raw sugar imports, ensuring that any decision is aligned with the public interest and the economic feasibility.
The committee met in Islamabad on Wednesday to discuss the potential import of raw sugar in the context of efforts to stabilize the interior prices of white sugar.
The meeting, chaired by the Federal Minister of National Food Security Rana Tanveer Hussain, was assisted by the Minister of Petroleum, Ali Parvez Malik, the Minister of Haroon Industries Akhtar and other senior officials.
During the meeting, the participants analyzed the implications for the import of raw sugar, weighing its potential advantages and challenges. Hussain stressed that regulated imports could help control market volatility and guarantee price stability for consumers.
“Importing raw sugar could be beneficial to stabilize the price of refined sugar in the country,” said Hussain.
The Committee also examined the models used by other countries for sugar market regulations and has discussed mechanisms to balance import strategies with domestic production.
Hussain ordered managers to conduct a complete study on the impact and procedures for raw sugar imports, ensuring that any decision favors public interest and economic feasibility.
Prime Minister Shehbaz Sharif and the Minister of Food Security have reaffirmed their commitment to exempt maximum consumers, stressing that all political measures would be taken thinking about their well-being.
The government continues to explore strategies to alleviate inflationary pressures on essential products, sugar prices being a key area of attention in the midst of continuous economic challenges.
