Pakistan Govt, sugar mills agree to temporary price cut until Eid-ul-adha
Pakistan’s Ministry of National Food Security and sugar mill owners have agreed to temporarily lower sugar prices until Eid-ul-Adha. A third-party audit will assess production costs to ensure fair future pricing. The move, praised by Minister Rana Tanveer Hussain, aims to protect consumers, boost transparency, and curb artificial price hikes, with a revised price expected post-Eid.
In a significant development, the Ministry of National Food Security and Research and sugar mill owners have agreed to temporarily reduce sugar prices until Eid-ul-Adha. The decision was made during a high-level meeting held on Wednesday, chaired by Federal Minister Rana Tanveer Hussain, and attended by sugar industry representatives and other stakeholders.
According to a statement released by the ministry, both parties also agreed to hire a third-party audit firm to evaluate sugar production costs. The move aims to bring transparency to future price decisions and ensure a fair, data-backed pricing system for sugar.
As per the agreement, once the audit report is completed and reviewed in mutual consultation, a new sugar price will be determined after Eid. The government says this initiative is part of a broader push to implement a transparent and accountable pricing mechanism.
The statement also highlighted that the government is actively working to prevent artificial price hikes and strengthen price control measures. Officials noted that sugar millers responded positively to the call for relief and agreed to reduce ex-mill prices for sugar until Eid.
Minister Rana Tanveer Hussain praised the sugar industry’s cooperation and called the temporary price reduction a welcome relief for consumers. He reaffirmed the government’s commitment to ensuring fair pricing, transparency, and consumer protection, stating that ongoing coordination between public and private sectors is essential to maintain food security and tackle inflation.
He further added that the ministry would continue to implement proactive policies, engage stakeholders, and monitor markets to stabilize the prices of essential food items across the country.
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Source : Daily Times
