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Business Recorder
5 days ago
- Business
- Business Recorder
SAB okays 0.5 MT import of sugar
ISLAMABAD: The Sugar Advisory Board (SAB) on Monday okayed the import of 0.5 million tons of sugar after the government exported the commodity in a large quantity in the current financial year, which led to a sharp increase in domestic sugar prices. The meeting of the SAB, which met with Federal Minister for National Food Security and Research Rana Tanveer Hussain, approved the import of 0.5 million of sugar to control rising prices and ensure a consistent supply of the commodity in the market. According to the Pakistan Bureau of Statistics (PBS), the country exported 765,734 metric tons of sugar between July and May this fiscal year, earning Rs114 billion. However, as expected following this export domestic sugar prices rose sharply and hit a record Rs190 per kg. Import of 250,000MT raw sugar: policy to be submitted to Cabinet During the meeting, the minister said that the decision to import sugar had become unavoidable due to a nationwide shortfall in supply and sharp price hikes. He attributed the recent surge in sugar prices largely to unjustified price increases by sugar mill owners. The minister emphasised that all formalities regarding the import will be completed within the next few days, and the imported sugar will be brought into the market at the earliest to provide relief to consumers. To tackle the crisis, the government has already initiated urgent measures and decided to implement strict monitoring of both sugar supply and pricing across the country. 'The situation demands immediate action. Stabilising sugar prices and ensuring its availability is the government's top priority,' said the minister. Copyright Business Recorder, 2025
Express Tribune
22-02-2025
- Business
- Express Tribune
Sugar board discusses Ramazan price stability
Listen to article A meeting of the Sugar Advisory Board, chaired by Federal Minister for Industries and Production, Rana Tanveer Hussain, was held to discuss the availability, price stability, and public relief measures for sugar during the month of Ramazan. A press release issued on Friday outlined key decisions taken to ensure sugar remains affordable for the public during the holy month. The board announced that sugar stalls will be set up at the municipal level, where sugar will be available at a fixed rate of Rs130 per kg. To ensure easy access to this subsidised sugar, the chief secretaries of all provinces were instructed to quickly establish these stalls in their cities. A total of 230 stalls will be set up in Sindh, 405 in Khyber-Pakhtunkhwa, and additional stalls in Punjab and Balochistan. This move aims to facilitate the common man and prevent hoarding and price manipulation. The provincial governments will be responsible for managing the security, cleanliness, and crowd control at these stalls. Tanveer directed that the uninterrupted supply of sugar should be guaranteed until the 27th of Ramazan. He emphasised that the initiative is designed to directly benefit the public, and a special committee will be formed to address any issues promptly. The government is also working closely with the Pakistan Sugar Mills Association (PSMA) and provincial governments to ensure full cooperation and a smooth sugar supply chain. Special security measures will be taken in Balochistan and K-P to guarantee the safe transportation and distribution of sugar to the stalls.
Express Tribune
16-02-2025
- Business
- Express Tribune
Govt plans subsidised sugar stalls for Ramazan
ISLAMABAD: The federal government has decided to set up stalls across the country to sell sugar at Rs130 per kilogramme. The decision was taken during a meeting of the Sugar Advisory Board, chaired by Federal Minister for Industries and Production Rana Tanveer Hussain. The meeting, attended by PSMA, provincial secretaries and cane commissioners, approved the establishment of municipal-level stalls starting three days before Ramazan until the 27th of Ramazan. Sugar will be available in one- and two-kilogramme packets, with a purchase limit of 5kg per person upon presenting a national identity card. Federal ministers and chief secretaries will oversee the stalls to ensure consumers receive sugar at an affordable price. The meeting came as speculative trade in sugar has begun pushing prices of the sweetener up even before the arrival of Ramazan and during the sugarcane crushing season. Sugar prices have registered a Rs12 per kg increase during the last week in city markets as a 50kg bag of the commodity in the local market has reached Rs7,400 after an increase of Rs600. According to the report, the price of sugar per kilogramme in the wholesale market has increased from Rs136 to Rs148, while it is being sold at Rs150 per kg by retailers. Usually, rates of the sweetener come down during the crushing season. But this season the situation is contrary and rates are going up though the crushing season is in full swing. In December 2024, the ex-mill rate of sugar was Rs125 per kg, but it has now jumped to Rs140 to 143, says a spokesperson for the Sugar Dealers Association. He says that the ex-mill rate for February is being pitched at Rs145. He says export of sugar and artificial shortage of the commodity is responsible for the price hike. He fears that if the situation is not controlled, there is a risk that the price of sugar will go up further in the month of Ramazan.
Express Tribune
15-02-2025
- Business
- Express Tribune
Sugar to be sold at Rs130 kg in Ramadan
Listen to article The Sugar Advisory Board, chaired by Minister for Industries and Production Rana Tanveer Hussain, has decided to cap sugar prices at Rs 130 per kilogram during Ramadan to ensure affordability for consumers. The decision was made in a high-level meeting attended by representatives from the Pakistan Sugar Mills Association, provincial secretaries, and cane commissioners. Authorities have also approved the establishment of special sugar stalls three days before Ramadan, which will remain operational until 27th Ramadan. The sugar will be available in one and two-kilogram packs, and each identity card holder will be allowed to purchase up to five kilograms. To prevent price manipulation and ensure fair distribution, the stalls will be monitored by federal ministers and chief secretaries. The initiative aims to provide financial relief to the public amid rising commodity prices, ensuring stable sugar supply throughout the holy month.
