Pakistan Govt attributes rising sugar prices to climate change, defends export decision
Pakistan attributes the sugar price surge to climate-driven yield losses, not profiteering. Haroon Akhtar cites a 20% crop decline causing a 1.4 MT shortfall, defending export approvals amid surplus claims. He rejects CCP allegations against millers, criticises prior fines, and reports progress on reviving Pakistan Steel Mills via a Russian-led feasibility study.
The government has attributed the recent surge in sugar prices to climate change rather than mismanagement or profiteering, with Special Assistant to the Prime Minister Haroon Akhtar pointing to adverse weather conditions as the primary cause.
As per reports, Akhtar explained that a 20% decline in sugarcane yield, caused by climate-related factors, led to a production shortfall of 1.4 million tonnes.
“The current sugar price hike is not due to millers; the real cause is climate change,” he stated.
He further defended the government’s decision to allow sugar exports, noting that Pakistan had a surplus of 1.5 million tonnes and a 500,000-tonne strategic reserve before the export approval and commencement of crushing in November 2024.
In response to a report from the Competition Commission of Pakistan (CCP), which accused millers of manipulating figures to secure export permits, Akhtar strongly rejected the claims.
“It is 100% incorrect, I would challenge that,” he said.
He also criticised the previous Rs40 billion fine imposed on millers, calling it “flawed and politically driven.” He pointed out that a tribunal had already sent the case back due to irregularities and lack of evidence.
Akhtar also shared updates on the industrial sector, announcing that plans for the revival of Pakistan Steel Mills, which has been closed for over 20 years, are progressing. A feasibility study by Russian experts is expected by the end of this month, with the government aiming to reposition the steel complex as a productive industrial asset.
To Read more about Sugar Industry continue reading Agriinsite.com
Source : Profit Pakistan Today
