Karachi/Lahore/Islamabad:
The sugar industry could have reached an agreement with the Government to sell the sweetener to the wholesalers at RS165 per kg. However, the effect of this agreement has not yet reached people, who are still obliged to buy the product at prices ranging from RS180 to RS210 per kg.
The sugar, extracted mainly in Pakistan of sugarcane, has seen a constant price increase in the last 7 months, from RS140 per kg to RS200 per kg. According to the president of the Association of Greater Laesty Ibrahim, Mills had stopped sugar supply on Friday, causing an additional increase in prices.
The Ministry of National Food Security and Research and Sugar Mills reached an agreement on Monday, establishing the ex sugar price in the mill at RS165 per kg.
“The mills resumed sugar supply on Tuesday, but do not provide the product at the agreed price and have established the ex -mill price in RS175 per kg.”
He said that under the ex-molin formula of RS165, the wholesale price must be RS168 and the retail price between RS172 and RS175. However, sugar is not available in the wholesale market even in RS185. The president of the Association of Retail Compilers, Fareed Qureshi, said that the retail price in Karachi was RS200 per kg on Tuesday.
In Lahore, sugar is sold at the discretion of merchants instead of the rates set in the government. The official retail price of sugar is RS180 per kg, but is sold between RS185 and RS210.
The deputy commissioner of Lahore, Syed Musa Raza, has ordered the commissioners of attendees and the price control magistrates who take measures against those who sell sugar at inflated rates. However, such actions have proven effective.
Meanwhile, a high -level meeting on sugar prices was held under the presidency of the Federal Minister of National Food Security Rana Hussain. The meeting was attended by the president and the high -ranking members of the Association of Moletas Sugar de Pakistan (PSMA), as well as senior officials of the Ministry, according to a statement.
Important decisions were made to stabilize sugar prices and provide immediate relief to the public. The association agreed to supply sugar at an ex -mill price of RS165 per kg. The association appreciated government efforts and ensured full cooperation to stabilize prices.
The authorities declared that the impact of price reduction would be seen on the market in the next two or three days.
On the occasion, Hussain said the government is taking all possible measures to relieve people. It made it clear that the application of the fixed retail price would be guaranteed and that hoarding or benefit will not be tolerated under any circumstance.
“A comprehensive strategy has been prepared to guarantee an uninterrupted supply of sugar, and that the ministry remain in constant contact with the sugar industry to safeguard the public interest at all costs,” said the minister.
Interestingly, the Commercial Corporation of Pakistan (TCP) has issued a revised tender that indicates that, for now, only 50,000 metric tons of sugar will be imported. The offers have been invited until July 22 under this reviewed tender. Previously, a tender for 300,000 metric tons was issued with a supply deadline on July 18.
