Federal Minister for Industry and Production Hammad Azhar on Wednesday announced several measures which the government has taken to stabilise sugar prices.
While addressing a press conference in the capital the minister said that imported sugar will be available around PKR 10 rupees below the existing market price.
“We are importing 150,000 tonnes of sugar on almost zero rate import duty, while more sugar can be imported this month, or next month to control prices.”
Trading Corporation of Pakistan (TCP) has also imported 150,000 tones of sugar for Punjab to be released on control rate; which will be between 10 to 15 rupees below market rate. Hammad Azhar also revealed that Sindh has refused to take imported sugar, therefore imported sugar will go to Punjab. Furthermore, sugarcane prices will be PKR 200 per maund for the growers.
The federal government has asked provinces to impose a PKR 5 million per day fine on sugar mills if they delay crushing. This year crushing will start on November 10, 2020. “Punjab is finalising legislation to impose 5 million fine per day while Sindh has assured to bring such law,” the minister added.
These decisions come as the government has sped up the crackdown against sugar mafia to stabilise prices.