Government Moves to Stabilize Sugar Prices with Import Agreement
Islamabad – In a bid to address domestic sugar shortages and curb rising prices, the government has approved the phased import of sugar. According to official sources, Letters of Credit (LCs) have already been issued to banks, paving the way for shipments to arrive at Pakistani ports in the coming weeks.
The first consignment is expected soon, and authorities have assured that the imported sugar meets international quality standards and will be delivered within the promised timeframe. Officials say the move will help maintain market stability, prevent further price hikes, and ensure a continuous supply across the country.
This decision comes after retail sugar prices in major cities surged close to PKR 200 per kilogram, sparking public concern. Analysts attribute the crisis to seasonal supply gaps and stockpiling, which disrupted the normal flow of sugar in markets.
The government’s strategy aims to balance both industrial and household needs while also countering inflationary pressures. Officials emphasized that efficient distribution of the imported commodity will ensure food security and protect consumers from sharp price shocks.
The issue of sugar supply gained further attention earlier this week when the Chairman of the Competition Commission of Pakistan (CCP), Dr. Kabir Ahmed Sidhu, briefed Finance Minister Muhammad Aurangzeb on the sector’s challenges. He revealed that exports had been allowed on the basis of misreported data, which led to a decline in available stocks.
The CCP also recalled past sugar crises in 2008, 2015, and 2019, noting that each was triggered by restricted supply. This latest agreement, authorities believe, will play a key role in preventing a repeat of such disruptions and keeping the market steady in the coming months.
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