Vice-Prime Minister Ishaq Dar said that retail prices should not exceed Rs 164 per kilogram following concerns about manipulation of prices on the sugar market.
DAR’s comments arise after the Pakistan Competition Commission (CCP) warned sweets to engage in anti -competitive activities that could still swell prices, Express News reported.
During a press briefing, Senator Dar said the Prime Minister had set up a committee to resolve the issue of sugar prices.
Despite government efforts to maintain sugar prices at Rs 130 per kg, retail prices on certain markets have increased above Rs 180 per kg, causing significant concern among consumers.
Ishaq Dar explained that the government had held a meeting at the end of the evening to solve the problem and find a way to make sure that the common citizen does not face prices between Rs 180 and Rs 200.
“We must make sure that ordinary humans can buy sugar at a reasonable price, but this requires a distribution channel and an implementation mechanism,” said DAR, adding that a sub-comity, led by the Minister of National Food Security and Research, Rana Tanveer Hussain, would work until April 19 to examine the situation and check the complaints of sweets concerning price hikes.
DAR also addressed the sales tax of the Federal Board of Return (FBR) on sugar, declaring that it would be invoiced from Rs 154 to 155 per kilogram, with a price ceiling fixed at Rs 159.
He stressed the importance of collecting intelligence relationships with the PCC to monitor the situation and take the appropriate application measures.
DAR has concluded that government efforts would focus on the guarantee of equitable competition and consumer protection against operating prices increases.
The Deputy Prime Minister also assured the public that there would be no sugar shortage in the country, adding that 274 public service markets provided sugar at a price of Rs 130 per kilogram. He confirmed that the sugar crisis, if necessary, would be avoided.
Regarding the next season of crushing sugar, Dar said that the owners of Sucre Mill would begin to crush in time, and from next year, the overwhelming season would start from November 1. He warned that strict measures would be taken against those who violated the calendar.
