Pak govt to import sugar at PKR 220 per kg to address looming crisis: Report
The Pakistani government has taken the decision to import 1 million metric tonnes of sugar to address the shortage caused by deceptive information provided by sugar mill owners, who falsely claimed that the country had a satisfactory domestic stock. This misleading assurance has led to a crisis, prompting the government to take this step, as reported by Geo News.
The sugar will be imported at an inflated price of PKR 220 per kilogram, and this additional cost will be borne by the already burdened population, struggling with inflation and now faced with the prospect of soaring prices, according to the report.
The current predicament is a direct result of sugar mill owners’ misrepresentation, which led the government to grant permission for sugar exports based on their claims of a substantial domestic supply, the report said. This manipulation of information has resulted in the alarming situation Pakistan is grappling with today.
Despite having a surplus stock of nearly 1 million metric tonnes of sugar, the Punjab Food Department has issued a warning about a looming sugar crisis in the near future.
Authorities are now left with the only option of using the excess stock to mitigate the crisis. However, this action will inevitably introduce imported sugar into the market, compelling consumers to pay PKR 220 per kg for sugar instead of the official price of PKR 100 per kg.
According to information from sources quoted by Geo News, the Trading Corporation of Pakistan (TCP) has already communicated with Pakistan’s commercial attaché in Brazil, initiating steps to secure the import of 100,000 metric tonnes of sugar from the South American nation.
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