(Web Desk) - The Ministry of National Food Security on Saturday confirmed that an order has been placed for the import of 200,000 metric tons of sugar with the aim of stabilizing domestic prices and provide relief to consumers.
According to the ministry's spokesperson, this step was taken to ensure the availability of sugar in the market and prevent artificial price hikes.
The spokesperson added that the sugar is being imported by the government, and the procurement process has entered its final phase following the opening of tenders.
The first shipment of imported sugar is expected to arrive in early September. It added that the decision to import sugar was taken to ensure the availability of the stocks in markets and maintaining a balance in domestic pricing without burdening the national exchequer.
Officials further stated that the decision to import sugar was made after securing a favourable discount in the international market, which would help maintain balance in domestic pricing without burdening the national exchequer.
The government hopes that the influx of imported sugar will support local market stability and curb inflationary trends affecting a key household commodity.