As per details, Federal Minister for Industries and Production Rana Tanveer dismissed reports of a sharp increase in sugar prices, stating that the claim of sugar reaching Rs180kg as per a report in English newspaper is ‘baseless.’
Tanveer said that PM Shehbaz Sharif after taking notice of the sugar price hike has formed a committee under the leadership of Deputy PM Ishaq Dar to monitor the situation.
According to Rana Tanveer, government intervention resulted in a Rs5 per kg drop in sugar prices, bringing them down to Rs162 per kg.
Furthermore, in collaboration with sugar mills, 135 stalls have been set up where sugar is being sold at Rs130 per kg, including two stalls operating in Islamabad.
DPM Dar ‘caps’ sugar prices at Rs164/kg
The minister assured that sugar prices will not be allowed to rise further and that the Pakistan government is working closely with provincial authorities.
He warned that if sugar prices exceed Rs162 per kg, strict action would be taken.
Rana Tanveer also refuted claims that last year’s sugar exports led to price hikes, clarifying that Pakistan had surplus sugar, of which less than half was exported.
He attributed this year’s lower sugarcane production to heavy rains but reassured that the country still has ample stock, including 500,000 tonnes of reserved sugar.
Accusing certain interest groups of misleading the public, he stated that mafias do not want price stability.
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