Govt jacks up sugar prices

Dunya News

The ex-mill price of sugar has been raised from 84.50 to 84.75.

ISLAMABAD (Dunya News) – Federal government led by Pakistan Tehreek-e-Insaf (PTI) on Friday increased the official retail and ex-mill price of sugar by 25 paisa per kg, raising the retail price from Rs 89.50 to Rs 89.75 per kg.

According to a notification issued by the Ministry of National Food Security, the ex-mill price of sugar has been raised from 84.50 to 84.75.

On the other hand, the maximum retail price of sugar has been fixed at Rs 89.75 per kg. The new official prices of sugar will be applicable immediately.

The notification further read, “The new price of prices will be effective till November 15, 2021 and notification has also been sent to all the provincial chief secretaries and commissioner Islamabad for implementation.

“Action will be taken against those found selling sugar at higher prices,” the notification added.

ECC meeting

On Thursday, the Economic Coordination Committee (ECC) of the Cabinet had approved to import 50,000 MT sugar to maintain sufficient stock in the country.

The ECC approved to import sugar in 03 segregated tenders of 50,000 MT each so that there is more participation and increased competition when international prices fall down, said a press release issued by Ministry of Finance. Finance minister Shaukat Tarin presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet.

Secretary, M/o Industries and Production, Jawwad Rafique Malik briefed the Committee about availability of sufficient stocks of sugar. He further apprised about the steps being taken to import sugar for building strategic reserves.

The Committee further emphasized to ensure smooth supply of sugar throughout the country and directed to initiate crushing by sugar mills in the beginning of November, 2021 as done last year.