https://arab.news/b4w26
- Federal cabinet approves import of 500,000 metric tons of sugar through public sector
- Government decision is aimed at stabilizing prices, preventing market manipulation and hoarding
ISLAMABAD: The federal cabinet has approved the import of 500,000 metric tons of sugar through the public sector to stabilize prices and prevent market manipulation, the Ministry of National Food Security announced on Tuesday, signaling an urgent intervention to cushion consumers from rising costs amid growing political and economic pressure.
The move comes at a time when sugar prices have surged to nearly Rs200 per kilogram in parts of the country, triggering public concern and drawing political heat.
In Pakistan, escalating sugar prices have historically triggered public outcry and become flashpoints for opposition criticism, with allegations of hoarding and cartelization frequently surfacing in election years or periods of economic volatility.
“All arrangements for the import have been finalized, and immediate implementation is now underway,” the ministry said in a statement.
“The decision represents a departure from previous governments’ approach, where artificial shortages were often created, placing a burden on the national exchequer through subsidies,” it continued.
Earlier, the government had allowed sugar exports, but it said in the statement the decision was taken when the domestic sugar supplies were abundant.
Faced with volatile market conditions now, it continued, the government is stepping in to stabilize prices and ensure uninterrupted availability of the essential commodity.
The ministry maintained the aim of the intervention was to strike a balance in prices and protect consumers from the effects of speculative trading and artificial scarcity.