ISLAMABAD: After last year’s export of approximately 0.2 million tons of sugar, sugar millers are advocating for further export of the commodity.
In response to their request, Prime Minister Shehbaz Sharif chaired a pivotal meeting on Tuesday to deliberate on the matter, taking into consideration both domestic stock levels and international demand.
Prime Minister Shehbaz Sharif led a critical session with key stakeholders, including Interior Minister Mohsin Naqvi, the Minister of Commerce, Industry, and Trade, and the Federal Minister for Food Security.
Also present were top officials, including the Federal Secretary for Food Security and Industry Secretaries. The Prime Minister emphasized the need for a comprehensive review of sugar production figures to ensure accuracy and address any disparities.
Recognizing the importance of stable sugar prices for consumers, Prime Minister Shehbaz Sharif underscored the necessity of meticulous examination to prevent future shortages and price fluctuations.
He also highlighted the economic benefits of sugar exports in enhancing the country’s trade balance and emphasized their significance in advancing national interests.
The meeting resulted in directives to intensify efforts against smuggling and hoarding, with a crackdown planned to combat artificial shortages and unjust price hikes.
The Ministry of Commerce was tasked with conducting a thorough review of demand and supply statistics, with a report expected within a week. Pricing recommendations regarding sugar supply will be formulated based on the findings of this report.
Insiders reveal that sugar millers claim there is a surplus stock of 1.5 million tons of sugar available in the country. However, with the anticipation of sugar export, local market prices have begun to rise, indicating potential further increases due to the export activity.
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Thanks for this valuable information.
Greate Article!
So the greed for pennies will make the masses suffer again. Shortage of sugar, expensive sugar, reimport the same sugar at a higher price.
Damn it!
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