Govt, sugar mills fix ex-mill price of sugar at Rs165/kg
The decision was reached during a high-level meeting chaired by Federal Minister for National Food Security & Research, Rana Tanveer Hussain, and attended by PSMA leadership and senior ministry officials.
The PSMA assured full cooperation with the government's price control initiative and agreed to supply sugar at the notified ex-mill rate. It was mutually agreed that the impact of this reduction would be visible in the retail market within two to three days.
'The government is fully committed to providing relief to the public,' said Minister Hussain. 'Strict implementation of retail pricing will be ensured and any hoarding or profiteering will not be tolerated.'
Pakistan cuts volume sought in sugar tender to 50,000 tons
The minister added that a mechanism has been put in place to counter artificial price hikes and ensure continuous sugar supply. He reaffirmed the government's resolve to prioritize public interest and continue close coordination with the sugar industry for sustained price stability.
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Express Tribune
6 hours ago
- Express Tribune
Govt, sugar mills agree on Rs165/kg ex-mill price
Listen to article Federal Minister for National Food Security & Research, Rana Tanveer Hussain, chaired a high-level meeting today with the Pakistan Sugar Mills Association (PSMA) to address the implementation of the government-notified ex-mill price of sugar and ensure its smooth availability in the market. According to an official statement released on Tuesday, the meeting was attended by the chairman and senior members of PSMA, along with senior officials of the ministry. During the meeting, detailed deliberations were held on the enforcement of the ex-mill sugar price and steps needed to ensure immediate and uninterrupted supply of sugar across the country. As per the statement, the association appreciated the government's decision and assured its full cooperation in stabilising prices. The PSMA agreed to supply sugar at the ex-mill price of Rs165 per kg. It was mutually agreed that the impact of the price reduction would start reflecting in the retail market within the next two to three days. Speaking on the occasion, Federal Minister Rana Tanveer Hussain stated, "The government is fully committed to providing relief to the public. All possible measures are being taken to ensure the availability of sugar at affordable prices." He further emphasised that strict implementation of the retail price will be ensured and hoarding or profiteering will not be tolerated. The minister highlighted that an effective mechanism has been devised to curb artificial price hikes and ensure consistent supply. He reiterated that public interest remains the top priority of the government and that the ministry will continue to work in close coordination with the sugar industry to maintain price stability, reads the statement.
Express Tribune
10 hours ago
- Express Tribune
Deal falls flat as sugar prices stay high
The sugar industry might have cut a deal with the government to sell the sweetener to the wholesalers at Rs165 per kg. However, the effect of this deal has not yet reached people, who are still compelled to buy the commodity at prices ranging from Rs180 to Rs210 per kg. Sugar, mostly extracted in Pakistan from sugarcane, has seen a steady increase in prices in the last 7 monthsfrom Rs140 per kg to Rs200 per kg. According to Wholesale Grocers Association Chairman Rauf Ibrahim, mills had stopped supply of sugar on Friday, causing a further hike in prices. The Ministry of National Food Security and Research and sugar mills reached an agreement on Monday, setting the ex-mill price of sugar at Rs165 per kg. "The mills resumed supply of sugar on Tuesday but they are not providing the produce at the agreed price and have set the ex-mill price at Rs175 per kg." He said under the Rs165 ex-mill formula, the wholesale price should be Rs168 and the retail price between Rs172 and Rs175. However, sugar is not available in the wholesale market even at Rs185. Retail Grocers Association Chairman Fareed Qureshi said the retail price of sugar in Karachi was Rs200 per kg on Tuesday. In Lahore, sugar is being sold at the discretion of shopkeepers rather than at government-fixed rates. The official retail price of sugar is Rs180 per kg, but it is being sold for between Rs185 and Rs210. Lahore Deputy Commissioner Syed Musa Raza has directed assistant commissioners and price control magistrates to take action against those selling sugar at inflated rates. However, such actions have proven ineffective. Meanwhile, a high-level meeting on sugar prices was held under the chairmanship of Federal Minister for National Food Security Rana Tanveer Hussain. The meeting was attended by the chairman and senior members of the Pakistan Sugar Mills Association (PSMA) as well as senior officials of the ministry, according to a statement. Important decisions were made to stabilize sugar prices and provide immediate relief to the public. The association agreed to supply sugar at an ex-mill price of Rs165 per kg. The association appreciated the government's efforts and assured full cooperation in stabilizing prices. Officials stated that the impact of price reduction would be seen in the market within the next two to three days. On the occasion, Hussain said that the government is taking all possible steps to provide relief to the people. He made it clear that enforcement of the fixed retail price would be ensured and that hoarding or profiteering would not be tolerated under any circumstances. "A comprehensive strategy has been prepared to ensure uninterrupted supply of sugar, and that the ministry remains in constant contact with the sugar industry to safeguard public interest at all costs," the minister said. Interestingly, the Trading Corporation of Pakistan (TCP) has issued a revised tender stating that, for now, only 50,000 metric tons of sugar will be imported. Bids have been invited until July 22 under this revised tender. Earlier, a tender for 300,000 metric tons was issued with a bid deadline of July 18.
Business Recorder
20 hours ago
- Business Recorder
PSMA agreed for ex-mill price of sugar at Rs165/kg, ministry says
The federal government and the Pakistan Sugar Mills Association (PSMA) on Tuesday agreed to enforce an ex-mill price of Rs165 per kilogram in a bid to stabilize sugar prices and ensure uninterrupted availability in the market. The decision was reached during a high-level meeting chaired by Federal Minister for National Food Security & Research, Rana Tanveer Hussain, and attended by PSMA leadership and senior ministry officials. The PSMA assured full cooperation with the government's price control initiative and agreed to supply sugar at the notified ex-mill rate. It was mutually agreed that the impact of this reduction would be visible in the retail market within two to three days. 'The government is fully committed to providing relief to the public,' said Minister Hussain. 'Strict implementation of retail pricing will be ensured and any hoarding or profiteering will not be tolerated.' Pakistan cuts volume sought in sugar tender to 50,000 tons The minister added that a mechanism has been put in place to counter artificial price hikes and ensure continuous sugar supply. He reaffirmed the government's resolve to prioritize public interest and continue close coordination with the sugar industry for sustained price stability.
