Deputy Prime Minister (DPM) and Foreign Minister Ishaq Dar on Friday confirmed the government’s commitment to actively monitor the bid and regulate sugar prices national to ensure market stability and affordability for consumers.
DPM expressed determination under the presidency of a meeting in Islamabad in the prevailing sugar situation in the country.
During the meeting, he reviewed compliance with the agreement reached earlier and expressed his satisfaction with the downward trend in the price of sugar.
Dar directed Pakistan’s Sugar Mills Association to ensure full compliance with the Agreement on Retail Sugar Prices in or below RS164 per kilogram across the country.
Last week, the government and the sugar sector hit an agreement, covering the former kilometers and retail prices in RS154 -159 and RS164 per kilo, respectively, for one month.
However, one kilo of sugar in the 274 fair price stores across the country will cost RS130 per kilo. Dar announced this after talks with PSMA, Radio Pakistan said.
The annual General Assembly (AGM) of the Sugar Sector took place on Tuesday, in which the consent of retail prices and former kilometers was granted for one month. “The price of the retail stadium is set at RS164 per kilo,” Dar said, adding that the price of the former kilometer was processed in the RS154 complex to RS159 per kilo.
Earlier, the government had rejected PSMA’s request to correct the former millimeter price to RS175 per kilogram and made it clear that market efforts would be addressed with an iron hand.
Sugar barons were planning to increase the price to RS200 to RS220 per kilo on the domestic market a few weeks ago.
The government, in consultation with the relevant quarters, assessed that the cost of production, including sales tax, was less than RS154 per kilo.
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