Govt assures no sugar price hike during Ramadan
Minister for Industries and Production Rana Tanveer Hussain has said sugar prices will not be allowed to increase during Ramadan, according to
Radio Pakistan
.
Chairing a meeting to review sugar prices in Islamabad on Friday, he said providing relief to consumers during Ramadan is responsibility of the government.
Hussain said sugar millers have been given a one-week time for consultation on sugar prices and final rates of the commodity will be announced on Thursday.
The minister said farmers should be included in the profit and sugar millers should play their role in addressing production and financial issues of agriculturists.
Earlier this week, the Utility Stores Corporation (USC) raised the price of sugar by Rs5 per kilogram. According to sources, the price of sugar at Utility Stores has been increased from Rs140 to Rs145 per kilogram.
The decision to increase the price was made due to rising prices in the open market. However, despite this increase, sugar at Utility Stores remains cheaper than in the open market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
a day ago
- Business Recorder
Pakistan's power generation increases 8% in June
Power generation in Pakistan clocked in at 13,744 GWh in June 2025, an increase of over 8% MoM compared to the generation recorded in April 2025, suggesting an uptick in economic activity. Back in May 2025, power generation stood at 12,755 GWh. Analysts noted that rising temperatures and a significant increase in hydel generation i.e. 12% MoM also helped in demand improvement. On a yearly basis, power generation surged by 2% as compared to 13,461 GWh in June 2024. In FY25, power generation remained largely flattish, increasing by 0.1% YoY to 127,159 GWh compared to 127,059 GWh in the SPLY. 'Power generation in Pakistan in FY25 has remained flat on a YoY basis because companies relied largely on their power generation throughout the year amidst expensive grid energy,' said Topline Securities. 'The government introduced off off-grid levy in February 2025 to discourage the use of captives and encourage companies to move to the grid. 'Alongside this, the prime minister also reduced overall unit cost by over Rs5/kwh in Apr, May and Jun 2025 after savings from negotiations with IPPs and relocation of PDL amount to electricity saving. As a result of this, in 4QFY25, the electricity production was up 7%,' it noted. On the other hand, the total cost of generating electricity in Pakistan was up 1%, clocking in at Rs7.9 KWh in June 2025 compared to Rs7.8 KWh registered in May 2025. On a yearly basis, the cost was down 9%, compared to Rs8.6 KWh in June 2024. In June, hydel emerged as the leading source of power generation, accounting for 39% of the generation mix, to become the largest source of electricity generation. This was followed by RLNG, which accounted for 16% of the overall generation, ahead of coal local, which accounted for 11% of the power generation share. Among renewables, wind and solar generation amounted to 4% and 1%, respectively, of the generation mix.
Business Recorder
2 days ago
- Business Recorder
Grave policy gaps in sugar sector
EDITORIAL: The Trading Corporation of Pakistan's (TCP) July 15 directive to slash its sugar import tender from 300,000 to just 50,000 metric tonnes is the latest twist in a saga that has completely exposed the confusion, lack of foresight and planning, and utter incompetence that has defined the government's handling of sugar export and import decisions in recent months. More tellingly, it reveals a policy regime designed to reward rent-seeking behaviour rather than protecting the public interest and market stability. As previously detailed in this space, the government, acting under the considerable, and dare one say, pernicious influence of powerful sugar barons, many of whom hold prominent positions within the political mileu, approved the export of roughly 765,000 metric tonnes of sugar during the last fiscal year. The decision was ostensibly based on assurances that only surplus stocks would be exported, ensuring that domestic prices would remain stable. However, what ensued was a shortage of sugar domestically and a sharp price surge, solely benefitting trade. To rein in soaring domestic prices, the government recently decided to allow the tax-concessions on import of sugar. The timing of the import decision, however, highlights a serious lack of planning and coordination among key stakeholders. By the time imported sugar enters the Pakistani market, the local crushing season will be in full swing, risking disruption to the domestic crop's market. Even more critically, importing such large quantities raises questions regarding the pressures that will be brought to bear on our precarious foreign exchange reserves. And given the tax waivers on these imports – wherein the FBR has exempted these from customs duty and reduced the sales tax rate from 18 percent to 0.25 percent – not only is this going to seriously burden the national exchequer, the country will also risk violating the $7 billion IMF programme that mandates it to not grant preferential tax treatments or engage in commodity purchases. While the IMF has made no official comment, there are reports of it privately taking strong exception to the government's haphazard moves that deviate from agreed reforms. It is this pressure, ostensibly, that compelled the TCP to considerably scale back its sugar import tender. The exorbitant prices Pakistani consumers have been forced to pay for sugar reveal not only the folly of the ill-conceived decision to export the commodity in the first place, it also points to deeper, systemic issues related to rampant price manipulation, hoarding, the entrenched political clout of sugar barons, their cartel-like behaviour and the collapse of regulatory oversight. Over the last seven months, there has been a consistent rise in prices of the commodity from Rs140 per kg to around Rs210 per kg even as its international price at current exchange rate levels hovers around the Rs104 per kg mark. Now, despite the government reaching an agreement with mill owners that fixed the wholesale price at Rs165 per kg, media reports indicate that many wholesale outlets have openly defied the agreement, demanding prices far beyond the official rate. As a result, consumers continue to face inflated retail prices that bear little relation to the official ex-factory cost. This encapsulates all that is wrong with the regime governing the trade of agricultural commodities: toothless oversight mechanisms, unchecked power and impunity of entrenched agro-industrial lobbies, and the complete marginalisation of the public interest. It must be noted that sugar is not a staple crop nor does it have substantive strategic value. Given this, it is unacceptable that successive governments have essentially subsidised its growth at the cost of more vital commodities. The government must put an end to the mollycoddling of the sugar sector and enforce discipline and transparency in its regulation. Copyright Business Recorder, 2025
Express Tribune
3 days ago
- Express Tribune
PAF aircraft shine at UK's Royal Air Tattoo 2025
Listen to article Pakistan Air Force (PAF) aircraft have secured international accolades at the prestigious Royal International Air Tattoo (RIAT) Show 2025 held in the United Kingdom, Radio Pakistan reported. The PAF's C-130 aircraft won first place at the event, receiving the Concours d'Elegance Trophy. Meanwhile, the JF-17C Block III fighter jet was awarded the 'Spirit of the Meet' Trophy. These awards were presented in recognition of the aircraft's exceptional flying performance and technical proficiency. The JF-17C Block III, which played a significant role in the Marka-e-Haq operation against India in May, flew from Pakistan to the United Kingdom using continuous, non-stop air-to-air refuelling. The jet is a representation of Pakistan's advanced defence technology. This international recognition has brought pride to Pakistan's aviation sector. Success at a globally renowned air show such as RIAT stands as evidence of the Pakistan Air Force's proven capabilities.
