Sugar in Pakistan Rs. 30 Per kg Costlier Than Global Market: FBR
Pakistan’s sugar prices remain about Rs30/kg above global levels, the FBR told a parliamentary panel. Imported sugar costs Rs197.50/kg with GST (Rs167.50 without). Shipping costs drive the gap. The government has imported 220,000 tonnes with tax exemptions limited to official imports. Heavy rains may hit sugarcane production, worsening supply concerns.
Pakistan’s sugar prices remain around Rs30 per kilogram higher than international market rates, officials of the Federal Board of Revenue (FBR) informed a parliamentary subcommittee on trade on Tuesday.
During a meeting of the National Assembly’s Standing Committee on Commerce’s subcommittee, chaired by Convener Mirza Ikhtiar Baig, the FBR outlined the current pricing structure of imported sugar. According to officials, imported sugar in Pakistan costs Rs197.50 per kg, including 18 percent General Sales Tax (GST). Without GST, the price stands at Rs167.50 per kg.
The FBR attributed the price difference mainly to shipping and related charges, which significantly increase the local cost compared to global benchmarks.
The committee was further told that the government has imported 220,000 metric tonnes of sugar so far. Tax exemptions on imports are granted only at the official level, in line with IMF conditions, while the private sector has not been extended similar relief.
Officials also warned that ongoing heavy rains and floods could adversely affect sugarcane production, which may place additional pressure on local supply and prices.
To Read more about Sugar Industry continue reading Agriinsite.com
Source : Bloom Pakistan
