Rana Tanveer rejects sugar price hike rumors, assures market control
Federal Minister for National Food Security, Rana Tanveer Hussain, refuted claims of sugar prices reaching Rs180 per kg, calling them baseless. He stated that the current price is Rs164 per kg, with a recent Rs5 per kg reduction due to government measures. Emphasizing no sugar shortage, he blamed hoarders for price disruptions and assured strict action against manipulators. With a national surplus of 1.5 million tonnes, the government remains committed to price stability.
Federal Minister for National Food Security, Rana Tanveer Hussain, has denied reports claiming sugar prices have surged to Rs180 per kilogram. He called these reports “baseless” and accused them of creating panic. According to Hussain, there has been no significant price increase. In fact, the government’s actions have led to a Rs5 per kg reduction.
The minister emphasized that the current market price of sugar is Rs164 per kg, not Rs180, and dismissed such claims as part of a disinformation campaign. He also assured that the government is working with provincial authorities to maintain price stability. A committee led by Finance Minister Ishaq Dar has been tasked with determining fair sugar pricing.
Hussain blamed hoarders and profiteers for the disruptions in sugar prices. He made it clear that there is no sugar shortage in the country. The minister stated that the government would take strict action against anyone manipulating prices. He also revealed that the national sugar stock from last year was 7.6 million tonnes, while consumption was 6.3 million tonnes, leaving a surplus of 1.5 million tonnes.
The minister acknowledged a slight decrease in sugarcane yield due to adverse weather but reassured that a national buffer stock ensures a stable supply. He urged the public to disregard rumors about sugar shortages or exports, stating that vested interests are behind the misinformation. The government is committed to maintaining supply and preventing any shortages.
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Source : Daily Times
